Overview
- Stephen Colbert aired a taped interview with Barack Obama on Tuesday, May 5, where Obama joked that “the bar has changed” for a presidential run and said Colbert would do “significantly better than some folks,” while stopping short of an endorsement.
- David Letterman, in a new New York Times interview published May 5–6, blasted CBS executives as “lying weasels” and argued Colbert was “dumped” to smooth a sale to Skydance.
- CBS and parent Paramount Global continue to say the cancellation was purely a financial decision, as Colbert has acknowledged late‑night’s money problems while noting the timing fueled doubts after his on‑air criticism of a $16 million settlement with President Donald Trump.
- The Late Show ends on May 21, and CBS will hand the 11:35 p.m. slot to Byron Allen’s Comics Unleashed, a leasing model that lets Allen sell his own ads.
- Letterman warned other shows could struggle next, highlighting how falling ad dollars and streaming have pushed networks to retire costly franchises and experiment with cheaper, syndicated fare.