• CBS announces the cancellation of "The Late Show with Stephen Colbert," set to end in May 2026.
• The decision is reportedly a financial one, amidst a backdrop of declining late-night television audiences.
• Colbert's criticism of CBS's parent company over a controversial settlement with Trump has raised concerns about political influence.
• Prominent politicians express skepticism regarding the timing of the cancellation.
• Trump celebrates the cancellation, suggesting more late-night hosts may face similar fates.

CBS has officially announced that "The Late Show with Stephen Colbert" will conclude in May 2026, marking the end of a decades-long career for the franchise, which began in 1993 with David Letterman. The network cited financial reasons for this decision, stating it is "purely a financial decision against a challenging backdrop in late night," emphasizing it is not related to the show's performance, content, or other ongoing matters at Paramount, CBS's parent company, according to CBS News, HuffPost, and Business Insider.

Colbert shared the news during a taping of his show on Thursday, expressing, "Next year will be our last season," to a reaction of boos from the audience. He added, "It's not just the end of our show, but it's the end of 'The Late Show' on CBS. I'm not being replaced. This is all just going away," according to Al Jazeera and Le Monde.

The backlash intensified following Colbert's recent comments on the $16 million settlement between Paramount and Donald Trump regarding a "60 Minutes" interview. Colbert described the settlement as a "big fat bribe," drawing attention to the precarious nature of political appeals as Paramount seeks approval for an $8 billion merger with Skydance Media. This has led many, including Senator Elizabeth Warren and Representative Adam Schiff, to call for transparency and express concerns that the cancellation might be politically motivated, as reported by Newsweek and HuffPost.

Following the cancellation announcement, Trump himself celebrated the news on social media, stating, "I absolutely love that Colbert got fired. His talent was even less than his ratings," and he suggested that other late-night hosts could be next. This commentary touches on the political climate surrounding late-night television, amidst declining viewership and significant industry changes, according to Los Angeles Times and SFGate.

The cancellation of Colbert's influential program raises crucial questions about the future of late-night talk shows and the potential impacts of political pressures on media freedom, echoing wider anxieties about content regulation in the entertainment industry as referenced by The Jakarta Post and Channel News Asia.