Stephen Colbert returns with his first ‘Late Show’ episode post-cancellation. Will he call out CBS or play it safe? Here’s what to expect tonight and beyond.
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📺 Colbert’s First ‘Late Show’ After CBS Cancellation: Will He Speak Out?
It’s a pivotal night for late-night television. Stephen Colbert returns to “The Late Show” for his first episode since CBS announced the show’s cancellation, and fans are holding their breath.
Will Colbert confront his network bosses on air? Or will he keep things lighthearted as he continues his 10-month countdown before the show ends in May 2025?
In this deep dive, we’ll unpack:
✅ Why “The Late Show” was canceled in the first place
✅ How Colbert might address the situation on air
✅ The political and financial storm swirling around CBS
✅ What’s next for Colbert and his 200 staffers
✅ The future of late-night TV in the streaming era
📰 The Shocking CBS Announcement
Last week, CBS made headlines by announcing that “The Late Show with Stephen Colbert” would end its run in May 2025. The news stunned both fans and media insiders because Colbert’s show has been a ratings leader for years.
CBS framed the move as a “financial decision”, citing declining broadcast revenues and the challenging economics of late-night television.
🗨️ “We thank Stephen Colbert and his incredible team for their dedication and creativity over the years,” a CBS spokesperson said.
But not everyone is convinced the decision was purely financial.
📉 Why Was Colbert Canceled? Financial or Political?
💸 The Financial Angle
Like other traditional networks, CBS has been struggling as audiences migrate to streaming platforms. Advertisers have pulled back spending, and late-night shows no longer enjoy the massive ratings they once did.
According to insiders:
📉 Late-night viewership is down 40% over the past five years.
💵 Producing “The Late Show” costs tens of millions annually.
📊 CBS had already been operating Colbert’s show at a “huge loss.”
🗳️ The Political Angle
Some fans believe the decision may have been politically motivated. Colbert has been one of the most outspoken critics of Donald Trump in late-night, often using his monologues to lampoon the former president.
Given CBS parent company Paramount’s efforts to gain Trump administration approval for its pending merger with Skydance Media, conspiracy theories abound.
🗨️ “If CBS was trying to appease Trump, why leave Colbert on the air for another 10 months?” asks TV critic Bill Carter.
Even so, the timing of the announcement during merger talks has fueled speculation.
📺 Colbert’s Guests for the Night
Tonight’s show promises to be a star-studded affair.
🎬 Sandra Oh and Dave Franco will join Colbert as guests.
🏛️ Later in the week, he’s set to interview Pennsylvania Governor Josh Shapiro.
Fans wonder if Colbert will weave subtle digs into his conversations, or save his commentary for his trademark opening monologue.
🗨️ Will Colbert Address the Cancellation On Air?
Colbert has two paths:
🚨 Go Bold: Call Out CBS
He could directly address the cancellation, criticizing network executives or hinting at behind-the-scenes pressures. This would likely spark massive social media engagement and coverage.
🤝 Stay Gracious: Focus on Humor
Alternatively, Colbert could keep the focus on comedy, taking a few light jabs but thanking CBS for its partnership.
So far, his public comments have been carefully worded and gracious.
🗨️ “CBS has been a great partner,” Colbert said last week.
Industry insiders suggest Colbert may avoid burning bridges—at least for now—out of loyalty to his 200 staffers, many of whom are facing job uncertainty.
📈 The State of Late-Night TV
The challenges facing “The Late Show” are not unique:
📺 NBC’s Jimmy Fallon and ABC’s Jimmy Kimmel have also seen declining ratings.
📱 Audiences now consume comedy clips on YouTube, TikTok, and Instagram instead of watching full shows live.
💻 Streaming services like Netflix have begun experimenting with late-night-style formats.
Experts believe the traditional 11:35 p.m. slot may be on its last legs.
🧠 Colbert’s Strategy for the Next 10 Months
As he counts down to the end of “The Late Show,” Colbert has a unique opportunity:
🔥 Use his platform for bold commentary without worrying about long-term network repercussions.
🎤 Bring in high-profile guests to generate buzz and keep ratings high.
📚 Pave the way for his next chapter, whether it’s on streaming, podcasting, or another media venture.
🗨️ “Colbert is one of the greatest practitioners of the winking aside,” says Jed Rosenzweig, founder of LateNighter. “Expect subtle digs at his predicament and parent company.”
📊 Why CBS Pulled the Plug: By the Numbers
| Metric | Value |
|---|---|
| Peak viewership in 2017 | 4.1 million nightly viewers |
| Current viewership | 1.9 million nightly viewers |
| Estimated annual production cost | $60 million |
| CBS advertising revenue decline | -25% (since 2019) |
| Staff members impacted | 200 |
🌎 Political Reactions and Speculation
The cancellation news has split opinions:
✅ Liberals see it as an attack on free speech and political satire.
✅ Conservatives argue CBS tolerated Colbert too long, despite poor ratings.
✅ Trump supporters are celebrating, with Trump himself posting on Truth Social:
🗨️ “Colbert is done! I told CBS they couldn’t let him keep lying about me. Now he’s fired. Great news for America!”
CBS has denied any political influence, but the conjecture continues to swirl.
📣 What’s Next for Colbert?
Even with “The Late Show” ending, Colbert’s career is far from over.
🔴 He could launch a streaming talk show on Netflix, HBO, or Apple TV+.
🎙️ A podcast series would give him creative freedom and reach a younger audience.
📚 Colbert could return to writing, producing satirical books or even documentaries.
Industry experts agree: “Colbert will land on his feet.”
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❓ FAQs: Colbert’s CBS Cancellation
1. Why is CBS canceling “The Late Show with Stephen Colbert”?
CBS says it’s a financial decision due to declining late-night ratings and ad revenue.
2. When is Colbert’s last episode?
The final episode is scheduled for May 2025.
3. Will Colbert continue to criticize Trump?
Yes. Colbert is known for his political satire and is unlikely to hold back in his remaining months.
4. What happens to Colbert’s staff?
About 200 staffers face job uncertainty, though some may be absorbed into other CBS projects.
5. What will replace “The Late Show”?
CBS has not announced a replacement but is reportedly considering cheaper, unscripted formats.
