The show is ending and Colbert will not be replaced, CBS executives said.

“This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content or other matters happening at Paramount,” the executives said in a statement.

CBS parent company Paramount is seeking approval from the US Federal Communications Commission for an US$8.4-billion merger with Skydance Media.

This month, Paramount agreed to settle a lawsuit filed by president Donald Trump over an interview with former vice-president Kamala Harris, his Democratic challenger in the 2024 presidential race, that CBS’s “60 Minutes” broadcast in October.

Colbert, a frequent critic of Trump on his show, told his audience on Thursday that he was informed of the show’s cancellation the night before.

Senator Adam Schiff of California, a Democrat, was a guest during Thursday’s show.

“If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better,” Schiff wrote on X.