Shortly after CBS announced that 'The Late Show' had been canceled for financial reasons, prominent figures began openly speculating about the network's timing

“CBS canceled Colbert’s show just THREE DAYS after Colbert called out CBS parent company Paramount for its $16M settlement with Trump – a deal that looks like bribery,” Senator Elizabeth Warren wrote on X. “America deserves to know if his show was canceled for political reasons.”

CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.

Top lawmakers were quick to rally around Stephen Colbert following the cancellation of "The Late Show." Why it matters: Sens. Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.) accused CBS of placating President Trump as its parent company Paramount is closing in on a merger deal.

President Donald Trump was gleeful over Stephen Colbert's cancellation, saying his "talent was even less than his ratings" on Truth Social.

CBS’ cancelation of its long-running The Late Show franchise, hosted by Stephen Colbert for the last decade, has left not only the public heartbroken and outraged, but Hollywood as well. Colbert, 61, who’s fronted the talk show since taking over from David Letterman in 2015, shared the network’s decision during Thursday’s broadcast.