Exclusive: Multiple CBS staffers who spoke with The Independent said they aren’t buying the company’s claim that Colbert’s cancellation was a ‘financial decision,’ adding that the demise of the show has left ‘everyone stunned.

In a statement on Thursday, the network said the late-night talk show was being canceled for financial reasons. Those reasons are associated with Paramount's proposed merger with Skydance Media, which requires Federal Communications Commission (FCC) approval under the Trump administration. Paramount is the parent company of CBS.

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