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Colbert followed “The Daily Show” host Jon Stewart’s attack of the deal one week earlier. Stewart works for Comedy Central, also owned by Paramount, making the two comics the most visible internal critics of the $16 million settlement that was announced on July 1.

CBS has officially announced that Stephen Colbert’s “Late Show” will come to an end in May 2026. The network said the decision was financial, not personal. In a statement from CBS executives, they explained,

In meeting with FCC officials, Skydance's David Ellison promised that CBS's "editorial decision-making reflects the varied ideological perspectives of American viewers."

The second extension of the Skydance Media merger follows Paramount’s $16million settlement with Donald Trump.