Does the end of Colbert's show in May 2026 relate to the Paramount-Skydance merger? To Colbert's criticism of Donald Trump? To the demise of late night television? Who's to say?

"Just finished taping with Stephen Colbert who announced his show was cancelled," U.S. Sen. Adam Schiff, D-California, said in a post on X. "If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.

Maybe the “Late Show” decision is purely financial. But after Paramount’s cave over “60 Minutes,” it is hard to trust.