David Letterman has savagely rejected CBS’s reasoning for canceling The Late Show, now hosted by Stephen Colbert.
Letterman, who hosted the iconic late-night talk show for 22 years before handing the reins to Colbert in 2015, told The New York Times he does not believe the cancellation was a financial decision.
“He [Colbert] was dumped because the people selling the network to Skydance said, ‘Oh no, there’s not going to be any trouble with that guy. We’re going to take care of the show. We’re just going to throw that into the deal. When will the ink on the check dry?’” Letterman said.
“I’m just going to go on record as saying: They’re lying. Let me just add one other thing. They’re lying weasels.”
CBS announced that The Late Show would be canceled in July 2025, just as its parent company Paramount was seeking approval for its merger with Skydance.
The cancellation also came shortly after Colbert—who routinely mocks the Donald Trump on air—blasted CBS News for buckling to the president and agreeing to pay $16 million to settle an easily dismissible lawsuit over the editing of 60 Minutes’ interview with former Vice President Kamala Harris ahead of the 2024 election.
In a July 2025 monologue, Colbert called Trump’s lawsuit “completely without merit” and suggested the $16 million payout was “a big fat bribe,” as Paramount’s owners needed the Trump administration to approve the sale of CBS to Skydance.
The Paramount-Skydance merger was eventually approved and finalized in August 2025. The company’s CEO, David Ellison, is the son of billionaire and top Trump donor Larry Ellison.
Following the merger, Ellison reshaped CBS News into a more Trump-friendly network under the tenure of its MAGA-curious editor-in-chief, Bari Weiss.
In response to Letterman’s comments, a CBS spokesperson told the Times that canceling The Late Show was “unequivocally a financial decision,” not related to concerns about Colbert.
Elsewhere in the interview, Letterman lamented how pro-Trump media forces have gutted the show he once hosted.
“It’s like driving by your old neighborhood and realizing that where you used to live, they’re putting up an adult bookstore,” Letterman said.
The final episode of The Late Show with Stephen Colbert will air on May 21.
The Daily Beast has contacted CBS for comment.
