A new report has revealed that Stephen Colbert’s manager, James Dixon, knew of the cancellation of ‘The Late Show’ more than two weeks before the host did, with the decision attributed to financial reasons rather than political motivations. Sources claim that the cancellation was primarily driven by financial factors, citing declining ad revenue and dwindling linear viewership. Despite initial speculation that Colbert’s liberal politics might have influenced the cancellation, the report emphasizes that the primary reason was economic.
The Ankler’s Lesley Goldberg highlighted that the timing of the cancellation, which occurred shortly after Colbert criticized Paramount’s settlement with Trump, created problematic optics for the media conglomerate. The report also noted that the cancellation was confirmed in a phone call between CBS executives and Dixon in June, with the host being informed two weeks later. Additionally, the show was reportedly losing around $40 million annually, further supporting the financial rationale behind the decision. The report underscores the broader challenges faced by late-night programming in maintaining profitability amidst shifting media landscapes and audience preferences.