CBS' shock announcement sparked speculation over whether there was a political motive for the program's cancellation.

CBS has canceled The Late Show with Stephen Colbert just a few days after Colbert criticised the network’s parent company, Paramount, for its high-profile settlement with President Trump.

In a statement on Thursday, the network said the late-night talk show was being canceled for financial reasons. Those reasons are associated with Paramount's proposed merger with Skydance Media, which requires Federal Communications Commission (FCC) approval under the Trump administration. Paramount is the parent company of CBS.