The Late Show’s Stephen Colbert tempted fate when he called Paramount Global’s $16 million settlement with President Donald Trump a “big fat bribe” earlier this week. Three days later, CBS announced it would end his show after the upcoming 2025-2026 season.

Stephen Colbert's 'Late Show' cancellation shows how his fake Republican and Never Trump persona became irrelevant as the political landscape shifted under Trump

The “Late Show” cancellation augurs ominously for the future of political comedy carried by mass media. Then again, comedy can exist outside of platforms provided by corporate conglomerates. Comedians can ply their wares at small clubs and make whatever jokes they see fit. Freedom of speech lives! Right?

Donald Trump is already lying about why CBS’s The Late Show With Stephen Colbert was canceled. “I absolutely love that Colbert’ got fired. His talent was even less than his ratings,” Trump wrote on Truth Social Friday morning.

Fox News host Howard Kurtz isn’t buying that CBS axed Stephen Colbert solely for financial reasons. Kurtz called out CBS’ parent company Paramount on Media Buzz Sunday, accusing it of cancelling The Late Show With Stephen Colbert in order to gain President Donald Trump’s approval.

Colbert’s cancellation came days after he mocked Paramount, which owns CBS, for its $16 million settlement with Trump in a lawsuit many considered meritless. That settlement comes as Paramount attempts a merger with Skydance Media, which requires Federal Communications Commission approval to proceed.

In the wake of the cancellation of Stephen Colbert's "The Late Show", Donald Trump has taken to social media to express his joy at the decision.