What did Stephen Colbert say about the Paramount Trump Settlement? What we know amid Adam Schiff’s viral tweet

Senator Adam Schiff, a guest on The Late Show with Stephen Colbert, suggested that the show's cancellation might be politically motivated.

He took to X (formerly Twitter) and wrote:

“Just finished taping with Stephen Colbert who announced his show was cancelled. If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.”

Stephen Colbert slammed Paramount Global’s $16 million settlement with President Donald Trump over a lawsuit related to a “60 Minutes” interview with Vice President Kamala Harris. Colbert, who is the host of The Late Show, which airs on CBS, a company owned by Paramount, called the settlement a “big fat bribe,” as reported by Fox News. He said:

“I believe this kind of complicated financial sentiment with a sitting government official has a technical name in legal circles. It’s ‘big fat bribe,’ because it all comes as Paramount’s owners are trying to get the Trump administration to approve the sale of our network to a new owner, Skydance!”

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Senator Elizabeth Warren questions the abrupt ending of Stephen Colbert’s The Late Show

Senator Elizabeth Warren has supported Stephen Colbert's stance regarding the cancellation of The Late Show.

Expressing her views on the same, she posted her statement on X on July 17, 2025. She wrote:

“CBS canceled Colbert’s show just THREE DAYS after Colbert called out CBS parent company Paramount for its $16M settlement with Trump – a deal that looks like bribery. America deserves to know if his show was canceled for political reasons. Watch and share his message.”

Jimmy Kimmel, Ben Stiller, John Cusack, Andy Richter, and Michael Ian Black are among the others who have decried the decision.

CBS News reported that CBS has called its time to end The Late Show and retire The Late Show franchise in May 2026 as “purely a financial decision against a challenging backdrop in late night,” and “is not related in any way to the show's performance, content, or other matters.”

George Cheeks, the president of CBS and co-chief executive of Paramount, added in the press release –

“We consider Stephen Colbert irreplaceable and will retire 'THE LATE SHOW' franchise at that time. He and the broadcast will be remembered in the pantheon of greats that graced late night television.”

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The Late Show was created by CBS in 1993. It was launched as a late-night talk show to attract viewers after David Letterman ended his stint with NBC and joined CBS as a host. When Letterman left the show in 2015, he was replaced by Colbert.

In July 2024, Paramount, the owner of Paramount Pictures movie and television studios, the CBS television network, and CBS News, announced that it is planning to merge with Skydance Media, a media production and finance company, according to a press release. It is led by David Ellison as Chairman and Chief Executive Officer, and Jeff Shell as President.

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