CBS Cancels Itself,
Not Just Colbert
May 16, 2026
By Bill Carter
Mr.
Carter is the author of “The Late Shift” and “The War for Late Night” and is
editor at large for LateNighter.com
From the start of his
career as a late-night television star on CBS, Stephen Colbert shattered the
long-established broadcast network mold for who and what make a late-night
host.
His previous experience,
“The Colbert Report” (pronounced as though on TV Française) on Comedy Central,
was a never-ending sketch, which had Mr. Colbert playing a caricature of a
self-obsessed, blowhard conservative commentator.
He even conducted
interviews on the show as the character, compelling him to tell his guests to
be prepared for “a jerk.”
Before CBS, Mr. Colbert had almost
never appeared as himself on television, nor most anywhere else. For years he
gave interviews about the show completely in character, a guy who could not
have been more opposite to the real Mr. Colbert in personality or political
views.
Everyone had to be in on
the fake news joke. It was a masterly, one-of-a-kind performance, one of the
sharpest, most astute political satires ever produced for a mainstream audience
— and a hit. It lasted for nine years. His recruitment by CBS to succeed the
legendary David Letterman as host of “The Late Show” in 2014 made complete
sense to me; he was a major comic star and he wanted the job. At the time, I
was convinced it was a perfect match, and one sure to be easier than what Mr.
Colbert had just pulled off. All he had to do this time was be the real Stephen Colbert.
What I didn’t anticipate
was that the foundation of Mr. Colbert’s success was something new to late
night: hard-core, point-of-view political comedy. He had developed it while
contributing to “The Daily Show” on Comedy Central. A broadcast network, steeped
in the traditional “both sides” style of Johnny Carson, was going to expect him
to drop that as well as the character.
CBS did; Mr. Colbert
tried. It didn’t work.
His outspoken, pointedly
satirical voice was muted in his early “Late Show” performances. He looked a
bit lost, as though in trying to be the real Stephen Colbert whom CBS
anticipated, he was actually becoming another character — and not a terribly
funny one.
At risk of losing the
gig, Mr. Colbert agreed to CBS’s push for a new executive producer, Chris
Licht, with only TV news credits: “Morning Joe” and “CBS This Morning.”
Mr. Colbert later praised Mr. Licht and conceded he had been crucial in
transforming the show into “what we really want to do,” which was build the
comedy around the news of the day (even if Mr. Colbert had given up pretending
to be a fake news anchor).
Mr. Licht’s arrival in
2016 coincided with the political rise of Donald Trump — and a grudge match
made in media heaven was born.
Mr. Colbert started
finishing first in late-night about a year later and stayed in the position for
most of the time since.
Mr. Colbert is leaving
the Ed Sullivan Theater this Thursday, after around 1,800 shows. CBS has said,
definitely and defensively, that this is purely a business decision. Nobody
really believes that, but even the No. 1 late-night show is not the moneymaker
it once was. It’s expensive to produce. The broadcast ratings are not what they
used to be. Those viewers who are left are disproportionately older, and of
less interest to advertisers.
The network says it
decided to end “The Late Show” because it was losing at least $40 million a
year. Sounds credible, doesn’t it? Maybe not. Many insiders — including Mr.
Colbert’s friend and direct competitor, Jimmy Kimmel — have noted that CBS’s
calculation left out some key factors. It did not include the effect of Mr.
Colbert’s star presence on the fees CBS is able to command from local affiliate
stations. It shrugged off the value the network has gained from sending stars
of its series onto the show for promotion. It ignored Mr. Colbert’s role in
bringing viewers to those affiliates’ 11 p.m. news shows, in anticipation of
the new “Late Show” episode that would air right after.
Mr. Colbert says the network never
raised its financial concerns, and did not push for any of the ways such a show
could cut costs. (When NBC saw declining revenues from its own late-night
offerings, it eliminated the band on Seth Meyers’s show and cut Jimmy
Fallon’s back to four days a week.) In fact, Mr. Colbert said CBS was “feverish” to lock him into a new contract only three years ago.
Mr. Colbert, as
gentlemanly a star as there is on television, has thrown no on-air tantrums.
He’s mostly left the open disparagement of the bosses to his predecessor, David
Letterman.
But it’s no secret what
transpired in between that eager pitch to extend his run and that sudden
closing notice: CBS’s parent company, Paramount, was on the verge of a merger.
President Trump, who had been wounded by Mr. Colbert’s political satire, and who
on many occasions had publicly called for him to be canceled (or “put to sleep” in one memorable social media message), had returned to
office and was in a position to interfere with any deal.
Paramount had already
taken steps widely seen as currying favor with the administration, most notably
when it signed off on a $16 million payment to settle a lawsuit Mr. Trump
brought against CBS News’s “60 Minutes,” even though legal experts said Mr. Trump
had very little chance of prevailing in court.
In a monologue, Mr.
Colbert called the settlement a “big fat bribe.” He got word he’d been
canceled just days later. A week or so after that, the deal was approved.
However CBS attempts to characterize
the Colbert decision from now on, that’s what people will remember.
Having a late-night star
on the air most weeknights has been a powerful statement, affirming that the
broadcasters were still in the game, still offering original programming taped
before a live audience that viewers showed up for, year round. Successful hosts
became their networks’ signature stars.
In forcing Mr. Colbert
out and shutting down a 33-year late-night franchise — while selling that
post-local-news hour of airtime to a syndicated show instead of replacing him
with an original program of the network’s own creation — CBS is assenting to its
own diminishment.
The biggest loss is to core American
values, such as the right to speak freely, even in brutally mocking terms,
about those in power. Then there is the opportunity, shared by everyone, to
find and be entertained by voices like that on a free national platform, or to
turn them off and watch something else.



