A new report from Puck's Matt Belloni is shedding light on the finances that led to CBS' bombshell cancellation of "The Late Show with Stephen Colbert."

Stephen Colbert Fans Panic Over 'Favorite' Collab's Future After 'The Late Show's End first appeared on Parade on Jul 18, 2025 This story was originally reported by Parade on Jul 18, 2025, where it first appeared.

CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.

Liberal celebrities and politicians mourned the cancellation of "The Late Show with Stephen Colbert" as CBS claims the decision is purely financial and unrelated to the show's content.