The Late Show with Stephen Colbert was recently announced to be ending in May 2026 after a 33-year run. Since then, people have speculated whether the talk show host was fired. A social media user intensified the speculation by claiming that CBS axed Colbert from his show for criticizing Donald Trump.

In a statement on Thursday, the network said the late-night talk show was being canceled for financial reasons. Those reasons are associated with Paramount's proposed merger with Skydance Media, which requires Federal Communications Commission (FCC) approval under the Trump administration. Paramount is the parent company of CBS.