The entertainment world was shaken on July 17, 2025, when CBS announced the sudden cancellation of The Late Show with Stephen Colbert, a move that will end the late-night program’s run after its final episode in May 2026. While CBS attributed the decision to financial reasons, the cancellation has sparked widespread speculation about political motivations, especially as Colbert’s sharp political satire often targets figures like former President Donald Trump. However, former MSNBC host Keith Olbermann has firmly rejected claims that Colbert’s cancellation was politically driven.

Keith Olbermann YouTube; The Late Show YouTube

CBS’ Official Statement: A Financial Decision

CBS stated that The Late Show’s cancellation was a business decision. The network cited the show’s reported loss of around $40 million per year as the main reason for the cancellation. Despite The Late Show remaining the highest-rated late-night program on broadcast TV, with an average of 2.4 million viewers per episode, late-night ratings across the industry have been in steady decline in recent years. This financial strain, combined with shifting viewing habits, made the decision to end the show inevitable, according to the network.

While the financial explanation made sense from a business standpoint, many fans, commentators, and political figures quickly questioned whether there were political motivations behind the move. Colbert, known for his biting political commentary, had often criticized Trump and his allies, leading some to wonder if his departure was tied to his outspoken criticism of the former president and CBS’s parent company, Paramount.

Olbermann Denies Political Influence

Keith Olbermann, who hosted Countdown with Keith Olbermann on MSNBC between 2003 and 2011, responded to one such claim on social media, dismissing the idea that Colbert’s firing was politically motivated. Olbermann, a vocal critic of Trump, rejected a post that argued the cancellation was part of a larger fascist move to silence Colbert’s criticism of the former president. In a direct reply, Olbermann said, “Sorry. That’s not what happened here. If it had, they wouldn’t be keeping him on until next MAY.”

Olbermann’s response pushed back against the notion that Colbert’s termination was an immediate or politically-driven decision. He pointed out the timeline of events, noting that Colbert’s show was still set to air for several more months, which, in his view, would not align with a politically motivated cancellation.

The Political Backlash: Warren and Sanders Weigh In

Despite Olbermann’s dismissal of the political angle, many others remain convinced that Colbert’s firing was at least partly driven by political pressures. Senator Elizabeth Warren, who has been outspoken in her criticism of Paramount’s dealings with Trump, pointed to the timing of the cancellation. Just three days before the cancellation announcement, Colbert had criticized Paramount’s $16 million settlement with Trump over a legal dispute involving a 60 Minutes interview with Kamala Harris, Trump’s 2024 election opponent. Warren suggested that Colbert’s vocal criticism of the settlement played a role in his show being canceled.

Similarly, Senator Bernie Sanders raised concerns about a potential conflict of interest, accusing CBS’s billionaire owners of silencing Colbert after he called out their company’s actions. “Stephen Colbert, an extraordinary talent and the most popular late-night host, slams the deal. Days later, he’s fired,” Sanders said, adding, “Do I think this is a coincidence? NO.”

Warren and Sanders’ comments highlight the ongoing scrutiny over CBS’s ties to Trump and their potential impact on programming decisions. Paramount’s $16 million settlement with Trump, made after he sued the network over a 60 Minutes interview, had already raised questions about corporate influence and potential conflicts of interest, especially given Colbert’s history of mocking Trump and his administration.

Paramount’s Legal Troubles and Colbert’s Criticism

The timing of Colbert’s cancellation is especially sensitive given the political context surrounding Paramount’s recent legal settlement with Trump. The settlement stemmed from a lawsuit filed by Trump after he alleged that a 60 Minutes interview had been edited to portray his political rival Kamala Harris in a favorable light. Legal experts widely dismissed the lawsuit as frivolous, but Paramount chose to settle for $16 million, a move that many critics viewed as a way to avoid further legal complications.

Colbert had openly criticized the settlement and its broader implications, which could have contributed to the narrative that his show was canceled for political reasons. While CBS maintains that the financial issues were the primary cause, the combination of Colbert’s political commentary, Paramount’s settlement, and the network’s ongoing merger negotiations with Skydance have fueled speculation.

The Merger with Skydance and Its Impact on Programming

The context surrounding CBS’s cancellation of The Late Show also includes its ongoing merger with Skydance Media, which could influence future programming decisions. The merger, which is still awaiting regulatory approval, has put CBS under additional scrutiny, particularly as it faces pressure from shareholders and regulators. The idea of a more conservative, business-friendly direction for the company could have influenced the decision to part ways with Colbert, whose sharp political commentary could be seen as a liability in such negotiations.

However, critics of the cancellation remain unconvinced by the financial explanation. They argue that Colbert’s show, despite its financial losses, was a critical part of CBS’s late-night programming and maintained strong ratings. To many, the timing of the cancellation—just days after Colbert’s outspoken criticism of Trump and Paramount—suggests there may be more at play than mere financial concerns.

Conclusion: A Divided Opinion on the Cancellation

The cancellation of The Late Show with Stephen Colbert has left many questioning whether political motives played a role, particularly given Colbert’s frequent political commentary and his open criticism of Trump. Keith Olbermann, however, insists that the move was financially driven, pointing to the network’s long-standing struggles with declining ratings. On the other hand, politicians like Elizabeth Warren and Bernie Sanders have suggested that the decision was influenced by Colbert’s outspoken stance on political issues, particularly in the context of Paramount’s legal troubles.

As the final season of The Late Show unfolds and CBS navigates its merger with Skydance, the debate over whether Colbert’s firing was politically motivated or simply a business decision will likely continue. One thing is certain: Colbert’s departure marks the end of an era for late-night television, and how it plays out could have lasting implications for the future of politically charged programming in an increasingly polarized media landscape.