That's A Wrap! CBS Cancels Stephen Colbert's Late-Night Talk Show Days After Host Slammed Network's Parent Company For Giving President Trump a 'Big Fat Bribe'

CBS has pulled the plug on left-wing darling Stephen Colbert's late-night talk show, as the heartbroken host revealed the devastating news during his show on Thursday, July 17.

Colbert, 61, told viewers he found out "just last night that next year will be our last season," adding that the network will be ending The Late Show in May 2026, RadarOnline.com can reveal.

He clarified not only is the show ending, but there will be no more late-night talk shows on CBS, stating: "I'm not being replaced. This is all just going away."

"This is purely a financial decision against a challenging backdrop in late night," CBS executives said in a statement. "It is not related in any way to the show’s performance, content or other matters happening at Paramount."

The network added: "We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late-night television."

On Monday, July 14, Colbert went scorched earth regarding Paramount's $16million settlement with President Donald Trump during his opening monologue, after the Commander-in-Chief alleged 60 Minutes unfairly edited their 2024 interview with then-presidential nominee Kamala Harris.

Colbert slammed CBS' parent company for giving a "big fat bribe" to Trump despite a pending merger threatening his job, RadarOnline.com revealed.

While Colbert has been highly critical of Trump throughout the years, he brought his employer into the monologue in a big way.

"As someone who has always been a proud employee of this network, I'm offended, and I don't know if anything will ever repair my trust in this company," he declared.

However, the comedian said his pain would be lessened if he got the same deal, joking, "But just taking a stab at it, I'd say $16million would help."

The South Carolina native continued to hammer his network's parent company.

"Paramount knows they could have easily fought it because, in their own words, the lawsuit was completely meritless.

"Unlike the payoffs from ABC and Twitter, Paramount's settlement did not include an apology. Instead, the corporation released a statement where they said, 'You may take our money, but you will never take our dignity. You may, however, purchase our dignity for the low, low price of $16million.'"

Colbert added: "I believe this kind of complicated financial settlement with a sitting government official has a technical name in legal circles: it's Big Fat Bribe."

The sorrow of Colbert's cancelation announcement was a sharp turn from his jovial mood the day prior, when he proudly boasted to his audience that The Late Show had just been nominated for an Emmy.

After a wild round of applause, a thrilled Colbert joked, "Thank you, friends. I don't, I don't know what makes me more nervous, seeing if we can bring back some gold or seeing if I still fit into my tuxedo."

The Late Show is going up against The Daily Show and Jimmy Kimmel Live! for Outstanding Talk Series.

Colbert said the "real winner" will be his manager, James "Baby Doll" Dixon, who also happens to manage fellow nominees Jimmy Kimmel and The Daily Show's Jon Stewart. "So no matter who wins, he will be spending the night with two losers. Anyway, see you guys there," the funnyman added.