Even CNN’s Brian Stelter, no fan of Trump, said as much, writing: “The bottom has indeed been falling out of the late-night TV business model for several years now. Audience fragmentation and digital competition have led to a decline in ad revenue across the board. One insider described it as ‘cratering’ at CBS.”

CBS announced on Thursday that 'The Late Show With Stephen Colbert' would end in 2026, but the timing, coincidental or not, comes as Paramount tries to sell itself to Skydance.

Colbert confirmed the cancellation during a show taping on Thursday. CBS said the move was "purely a financial decision against a challenging backdrop in late night."

CBS could not figure out a path to profitability in an entertainment world increasingly dominated by streaming.

Comedian Stephen Colbert hosted the satirical ‘The Colbert Report’ before taking over ‘The Late Show’ in 2015. Read about his shows, wife, net worth, and more.

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 FCC approval to proceed.

Stephen Colbert took viewers by surprise this week when he announced The Late Show would be heading for the big TV schedule in the sky. The long-running series, which he has hosted since 2015, will leave screens next May.

"The Late Show" will end next May, marking the end of an era, CBS announced. The show has been a late-night staple since 1993. It was hosted by David Letterman until Stephen Colbert took over in 2015.