Stephen Colbert's friends and colleagues are in shock at The Late Show's surprise cancellation.

There’s a very simple reason why “The Late Show with Stephen Colbert” was canceled by CBS: the program was losing huge amounts of money, Puck reported. Colbert had to walk the plank because “The Late Show” was losing $40 million a year.

CBS has claimed that the cancellation of Trump-bashing show was a ‘financial decision’ despite timing of merger

President Donald Trump was gleeful over Stephen Colbert's cancellation, saying his "talent was even less than his ratings" on Truth Social.