"It isn’t the end of Colbert," Galloway wrote. "It’s the end of late-night TV. Colbert’s Late Show reportedly has been losing more than $40 million a year for CBS, with a budget of $100 million per season and about 200 employees." Galloway compared those economics to those of his own company.

CBS announced Thursday it is ending "The Late Show with Stephen Colbert" and retiring the franchise in May 2026. CBS News 24/7 anchor and featured host of "CBS Mornings" Vlad Duthiers has the details.

The news came shortly after Colbert spoke against CBS’s parent company, Paramount, for agreeing to pay $16 million to settle a lawsuit filed by Donald Trump over a 60 Minutes segment. While many suspected the president was behind the firing, he denied the claim, taking to his Truth Social, where he wrote: