In a move that signals the waning influence of legacy media, CBS has announced it will retire The Late Show with Stephen Colbert in 2026, citing financial decisions rather than ratings. Yet the timing raises eyebrows. Just days ago, Colbert publicly ranted against his own network after Paramount, CBS’s parent company, settled a $16 million lawsuit with President Trump over an edited 60 Minutes interview. Colbert, never shy about his disdain for Trump, labeled the settlement “a big, fat bribe” — conveniently overlooking the reality of corporate survival in a shifting media landscape where traditional networks are bleeding viewers and revenue.
Despite CBS executives calling Colbert “irreplaceable” and placing him in the “pantheon of greats,” the hard truth remains: viewers, especially younger audiences, have left the late-night echo chamber in favor of more dynamic platforms. The Trump settlement only sharpened internal divides, as Paramount seeks regulatory approval for its sale to Skydance — an approval that the Trump administration could very well influence. The settlement not only includes Trump’s legal fees but also stipulates that future presidential interview transcripts will be released, ensuring transparency CBS previously lacked.
Colbert’s outrage conveniently ignores the bigger picture: networks playing survival politics in an economy where streaming giants and alternative media dominate. As for CBS, this is less about art and more about arithmetic. Traditional TV’s loudest voices are becoming less relevant — and in this case, even less profitable.
