David Letterman has declared CBS a network of "lying weasels" over the cancellation of Stephen Colbert's Late Show. The former CBS late-night host rejected the network's public explanation for ending Colbert's program, asserting instead that Paramount Global's sale to Skydance Media drove the decision to ax the show.
Letterman, who hosted his own Late Show on CBS for 33 years before retiring in 2015, views the cancellation as a cost-cutting measure tied to the merger rather than performance-based. Colbert's Late Show, which launched in 2015 following Letterman's departure, had consistently maintained strong ratings and cultural relevance. The program ranked among late-night television's top performers, yet CBS opted to end production in December 2024, with the final episode airing in May 2025.
The friction between Letterman and CBS reflects deeper industry tensions surrounding corporate consolidation and the future of traditional broadcast television. Late-night talk shows represent significant production costs and legacy commitments that acquiring companies often view as expendable during restructuring. Skydance's purchase of Paramount represents one of the largest media consolidations in recent years, and such deals typically involve aggressive belt-tightening.
Letterman's public criticism carries weight within the industry. His three decades at CBS established him as the network's institutional anchor for late-night programming. His credibility lends force to suggestions that CBS executives misrepresented their rationale for canceling Colbert's show. The decision to end a successful program during an ownership transition suggests strategic portfolio choices rather than audience abandonment.
This moment highlights the precarious position of traditional broadcast formats in the streaming era. Networks juggle shareholder demands, production budgets, and content libraries when pursuing acquisitions. Colbert's cancellation underscores how merger arithmetic can override ratings success and cultural footprint.
THE BOTTOM LINE: CBS weaponized a corporate sale to eliminate an expensive legacy show while claiming otherwise, eroding trust with talent and audiences alike.