Stephen Colbert didn't hold back Monday night, delivering a fiery monologue in response to CBS’s decision to cancel The Late Show — and President Trump’s celebration of it.
“With just ten months left, the gloves are off,” Colbert told his audience. “I can finally speak unvarnished truth to power and say what I really think about Donald Trump starting right now. I don’t care for him.”
CBS announced last Thursday that The Late Show will end in May 2026. The network said the decision was purely financial, not related to ratings or content, despite the show’s long-running lead in late-night viewership.
Still, Trump wasted no time gloating. “I absolutely love that Colbert got fired,” the president posted on Truth Social. “His talent was even less than his ratings. I hear Jimmy Kimmel is next.”
Colbert fired back on-air: “How dare you, sir? Would an untalented man be able to compose the following satirical witticism? Go f--- yourself.” The crowd erupted in cheers.
The host also questioned CBS’s financial rationale, pointing out that The Late Show is still number one in ratings. “How could it purely be a financial decision?” he asked. “We’re number one!”
Colbert referenced a report by journalist Matt Belloni, who said the show loses over $40 million a year. “I could see us losing $24 million,” Colbert joked, “but where’d they spend the other $16 million? Oh right, the Trump settlement.”
That jab referred to CBS’s recent $16 million settlement with Trump over a 60 Minutes segment featuring Kamala Harris — a deal that Colbert previously called “a big fat bribe.”
Meanwhile, Fox News' Gutfeld! has taken the late-night crown, averaging 3 million viewers and outperforming The Late Show, The Daily Show, and other rivals in the key 25–54 demo.