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."

CBS is canceling “The Late Show With Stephen Colbert” next May, shuttering a decades-old TV institution and removing from air one of President Donald Trump's most prominent late-night critics.

Fans, political figures and fellow late-night hosts seemed stunned Thursday night when comedian Stephen Colbert announced that CBS would be ending The Late Show in May 2026, with many questioning what pushed the network and its parent company, Paramount Global, to make the decision.

A major Hollywood union is speaking out after the cancellation of "The Late Show with Stephen Colbert" and demanding action.

Stephen Colbert shocked his audience and late night fans, announcing CBS had decided to cancel his long-running show. “The Late Show” is the most-watched late night talk show on television, but it is expensive to produce and has faced declining ratings.

Jamie Lee Curtis Makes Cryptic Statement Following CBS 'Late Show' Cancellation originally appeared on Parade. Jamie Lee Curtis isn't holding back her feelings about the recent cancellation of The Late Show with Stephen Colbert.

Seth Meyers also reacted among other prominent political figures and Hollywood stars sharing their disgust over the news that 'The Late Show With Stephen Colbert' will end its run in 2026, including Julia Louis-Dreyfus,