This is a very interesting story, and one that just did fatal damage to the Left's narrative surrounding the ouster of 'Late Show' host Stephen Colbert.
It turns out word of the cancellation came down in June, before the Paramount/CBS settlement was announced and almost a month before Colbert was made aware.
Hollywood's self-described 'insider newsletter' The Ankler has the scoop:
SCOOP: Colbert didn’t know The Late Show was canceled until July 16. His manager knew since June.@Snoodit has new details including why CBS moved now, what Skydance and the Trump settlement had to do with it, and where the network is cutting next
— The Ankler (@TheAnkler) July 22, 2025
https://t.co/6HghNR4YDa pic.twitter.com/Apt9SdmSHJ
On June 27, just a few days before Paramount would announce its $16 million 60 Minutes settlement with President Trump, James Dixon received a call from CBS executives informing the prominent talent manager that the network was walking away from his client Stephen Colbert’s The Late Show. Dixon knew the news more than two weeks before his client, I’ve learned.
The franchise, which started in 1993 with David Letterman behind the desk, will soon go the way of other late-night offerings including CBS’ own After Midnight and The Late Late Show With James Corden as well as NBC’s Last Call With Carson Daly and its replacement, A Little Late With Lilly Singh. The genre’s footprint continues shrink amid a depressed ad market that saw the losses on Colbert’s show, which is No. 1 in late night with an average of 2.4 million viewers, grow to around $40 million last year. (Late Show costs $100 million annually to produce, per a source.)
Colbert, though, would not learn the news of his show’s demise until he returned from vacation. It was after Colbert taped the Wednesday, July 16 episode, I’m told, that Dixon informed him of CBS’ decision. The following day, Colbert stunned the TV industry and announced the cancellation at the top of the show.
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Wonder if all the hysterical pearl-clutchers will apologize and calm down?
Probably not.
We will soon learn that Jon Stewart also knew in June. 👀
— Dr. Platimus (@SWGaspar) July 22, 2025
Cat is almost out of the bag.
Almost.
Just more bakery from Team Colbert.
— Problematic AF™🔥 (@EF517_V3) July 22, 2025
And no, I don't believe his manager didn't tell him for a month, or that he didn't know this was coming because of massive money losses.
Once a hoaxer... https://t.co/153obPgo9p
Always a hoaxer.
But let's just assume Colbert didn't know until July 16. That's almost irrelevant.
The news predated the settlement and predated Colbert's attacks on Paramount/CBS during his monologue.
Fascinating tidbit in @TheAnkler about the Colbert news and its timing. Colbert's manager knew in late June that the show was being canceled but didn't tell the host until July 16. https://t.co/RHzF7pj5no pic.twitter.com/p0ciHJj9Fb
— Sonny Bunch (@SonnyBunch) July 22, 2025
It's really fascinating.
So he didn't know he was already cancelled until AFTER he called out his bosses? pic.twitter.com/BwLMFWgwvb
— jimtreacher.substack.com (@jtLOL) July 22, 2025
Oof indeed.
More interesting to me is that CBS's digital game sucks so bad that it's falling to lower-rated shows. Kimmel's ABC digital team is incredible. He's everywhere. Colbert's clips I see posted by others to drive up their own engagement, NOT the CBS team.
— Sarah Burris (@SarahBurris) July 22, 2025
Despite that, Kimmel was behind Colbert in the ratings and they were both beaten by Greg Gutfeld.
And he's on cable.
Wow. I would fire that manager.
— Gary in DFW (@LakerGMC_) July 22, 2025
Also notable in that it busts the narrative that his show was canceled due to the July 2 Trump suit settlement, which had not occurred when the decision was made. I'm sure everybody who ran with that conspiracy theory will be apologizing.
It's possible studio execs knew the settlement was coming. But remember: Colbert's contract was up in 2026 anyway.
Paramount/CBS chose not to extend it.
And Colbert remains on the air until May.
Rather *chef's kissy* I'd say
— The Watchdog (@TheWatchdogDBQ) July 22, 2025
Very much a *chef's kiss.*
The Left, once again, is outraged over nothing.
Wait, so, Paramount decided to cancel Colbert first and then settled with Trump after?
— champagneayatollah (@champayatollah) July 22, 2025
I realize those two still could be linked, but the original understanding of the timing helped reinforce the idea that Trump demanded Colbert’s cancellation as a condition of settlement.
Which is why this story was only revealed by The Ankler.
This whole “victim of Trump,” because he so bravely spoke “truth to power,” is such self aggrandizing BS by Colbert & all of the late night hosts showing “support.” The fact he’s not going off the air for 9 months should inform you it has nothing to do with Trump. https://t.co/KlEi6fkR36
— Carmela Motto (@Carmelamotto) July 22, 2025
Not a thing to do with Trump.
But the Left will never let facts get in the way of a good narrative.
So they made the decision before Colbert called them out, but he didn't find out until after? Ouch! https://t.co/4W6nUlC8gP
— jimtreacher.substack.com (@jtLOL) July 22, 2025
It's kinda funny when you put it that way.
Two weeks, which is to say about $1.7 million in losses. https://t.co/lACKNABRjm
— Anthony Bialy (@AnthonyBialy) July 22, 2025
We wonder how much the show will lose before it ends in May.
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