CBS' shock announcement sparked speculation over whether there was a political motive for the program's cancellation.

Shortly after CBS announced that 'The Late Show' had been canceled for financial reasons, prominent figures began openly speculating about the network's timing

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.