Colbert notably clowned Paramount and described the settlement as a “big fat bribe” on Monday’s show, jokes that sparked speculation that the program’s cancellation was politically motivated and led the show’s union to call for an investigation into CBS’ decision.

The state of late-night TV is keeping media executives from sleeping well. CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening.

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

CBS’ cancelation of its long-running The Late Show franchise, hosted by Stephen Colbert for the last decade, has left not only the public heartbroken and outraged, but Hollywood as well. Colbert, 61, who’s fronted the talk show since taking over from David Letterman in 2015, shared the network’s decision during Thursday’s broadcast.