Stephen Colbert Accuses Billionaires of Undermining “The Late Show”
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A pointed critique of corporate power and the influence of wealth emerged on New Year’s Eve as Stephen Colbert publicly questioned the motives behind the cancellation of his CBS show, The Late Show. The comedian directly attributed the decision to a distrust of billionaires, suggesting financial justifications were a smokescreen for deeper, politically-motivated forces.
The End of a Late-Night Staple
CBS announced the end of The Late Show last summer, with the program slated to conclude in May of this year. The network maintained that the decision was “purely a financial one,” claiming the show – consistently ranked number one in its time slot – was losing $40 million annually. However, this explanation has been widely disputed.
Doubts Over CBS’s Financial Claims
Skepticism surrounding the reported financial losses has been vocal within the entertainment industry. Fellow late-night host Jimmy Kimmel dismissed the $40 million figure as “obviously lies.” Many observers believe the decision was influenced by external pressures, specifically related to a major corporate merger.
A Merger and Political Interference
The cancellation coincided with parent company Paramount’s efforts to finalize a merger with Skydance Media, a deal requiring approval from the Federal Communications Commission (FCC). Simultaneously, former President Donald Trump repeatedly attacked Colbert and publicly called for his show to be canceled. The merger was ultimately approved the following week, placing David Ellison – son of billionaire Oracle CEO Larry Ellison, who reportedly provided significant financial backing for the deal – at the helm of the combined entity.
Colbert’s Ongoing Criticism
Colbert has consistently voiced his disapproval of the company’s actions since the announcement. He recently mocked Paramount’s $108 billion bid for a hostile takeover of Warner Bros., stating, “Wow. I gotta say, if my company’s got that kind of green, I’m sure they can afford to uncancel one of their best shows.”
During a New Year’s Eve interview with CNN’s Anderson Cooper and Andy Cohen, Colbert delivered his most direct assessment yet. When asked what the major lesson of 2025 was, he responded, “Don’t trust billionaires. They don’t get rich by finding that money on the side of the road, brother.” This statement underscores a growing narrative about the influence of concentrated wealth on media and entertainment.
