They Tried to Cancel The Late Show — But Colbert Fights Back With a Live Monologue So Explosive, CBS Is Now in Full-Blown Panic Mode!

In a stunning turn of events, Stephen Colbert, the sharp-witted host of The Late Show, delivered a live monologue on July 23, 2025, that has sent shockwaves through CBS and its parent company, Paramount Global. The network’s decision to cancel The Late Show in May 2026, announced just days earlier, was already mired in controversy. But Colbert’s explosive on-air response, in which he doubled down on his criticism of a $16 million settlement with President Donald Trump and hinted at an internal scandal, has pushed CBS into a state of crisis. With accusations of political motivations, a Writers Guild investigation, and public outcry from fans and politicians alike, the network is scrambling to control the narrative—but the truth may already be out of their hands.

The saga began on July 17, 2025, when CBS announced that The Late Show with Stephen Colbert would end its 33-year run in May 2026, citing financial pressures in the declining late-night TV market. The decision came as a shock, given the show’s status as the highest-rated late-night program, averaging 2.417 million viewers across its 2025 episodes. However, the timing raised eyebrows: just days earlier, on July 14, Colbert had publicly criticized Paramount’s $16 million settlement with Trump over a lawsuit regarding a 60 Minutes interview with Kamala Harris. In his Monday monologue, Colbert called the settlement a “big fat bribe,” suggesting it was a move to secure Trump administration approval for Paramount’s $8.4 billion merger with Skydance Media.

Colbert’s latest monologue took things to another level. Addressing a roaring audience at the Ed Sullivan Theater, he refused to back down, accusing CBS of “moral bankruptcy” if allegations of a quid pro quo with Trump proved true. “If this network thinks they can silence me or this show to curry favor with a president, they’re gravely mistaken,” he declared, his voice steady but laced with defiance. He hinted at internal documents suggesting CBS executives were pressured to make the cancellation decision to appease political interests, a revelation that has sparked widespread speculation about a deeper scandal. Posts on X erupted, with one user calling it “the monologue CBS didn’t want you to see.” The Writers Guild of America, representing The Late Show’s writers, has since demanded an investigation into the cancellation, expressing “significant concerns” about potential bribery and political interference.

The financial rationale provided by CBS has come under scrutiny. While the network claimed The Late Show was losing $40 million annually, industry insiders question the figures, pointing out that the show’s strong ratings and digital presence made it a valuable asset. Critics argue that the cancellation aligns suspiciously with Paramount’s need for Trump administration approval for its merger with Skydance, led by David Ellison, who has been linked to Trump through his father, Oracle billionaire Larry Ellison. Democratic senators Elizabeth Warren and Adam Schiff have publicly questioned whether the cancellation was politically motivated, with Warren stating, “America deserves to know if his show was canceled for political reasons.”

Colbert’s monologue didn’t stop at the settlement. He alluded to an “internal crisis” at CBS, suggesting that executives were divided over the decision to cancel the show. Sources close to the network report that some executives pushed back against the move, citing Colbert’s cultural and financial contributions, but were overruled by higher-ups prioritizing the merger. The audience’s reaction—boos and chants of “Keep Colbert!”—underscored the public’s outrage, amplified by social media. Celebrities like Jamie Lee Curtis and Jimmy Fallon expressed solidarity, with Curtis telling the AP, “They’re trying to silence people, but that won’t work. We will just get louder.”

The fallout has placed CBS in a precarious position. The network’s attempt to frame the cancellation as a purely financial decision has been undermined by Colbert’s revelations and the timing of the announcement. The 60 Minutes settlement, which allocated $16 million to Trump’s future presidential library, has been criticized as an attempt to clear regulatory hurdles for the Skydance merger. Trump himself celebrated the cancellation on Truth Social, writing, “I absolutely love that Colbert got fired. His talent was even less than his ratings.” This has only fueled speculation that the decision was a strategic move to placate the president, whose administration holds sway over the merger’s approval.

The public response has been swift and vocal. Fans have launched petitions to save The Late Show, and hashtags like #SaveColbert and #CBSScandal are trending on X. The Writers Guild’s call for an investigation by New York State Attorney General Letitia James has added pressure, with the guild arguing that the cancellation threatens free speech. Meanwhile, CBS’s decision to replace The Late Show’s time slot with syndicated comedy repeats has been met with skepticism, as the network has yet to announce a long-term plan.

Colbert, for his part, remains unbowed. In his monologue, he expressed gratitude to his audience and staff, saying, “This show is bigger than any one network. It’s about truth, laughter, and holding power to account.” His defiance has galvanized supporters, with director Judd Apatow praising his “bottomless” impact. As CBS scrambles to contain the backlash, the question remains: can they bury the truth, or has Colbert’s explosive monologue ensured that the scandal will define their legacy? With investigations looming and public sentiment firmly behind Colbert, it may be too late for the network to escape the consequences of their decision.