CBS said the cancellation wasn't related to "content or other matters happening at Paramount." Paramount controversially agreed to settle a lawsuit brought by Trump over a "60 Minutes" interview with then-presidential candidate Kamala Harris.

Paramount, which owns CBS as well as “Daily Show” network Comedy Central, is trying to complete a merger with Skydance. That deal requires approval from the FCC, the current chair of which was appointed by President Donald Trump, a frequent target of Colbert’s jokes who has complained openly about Colbert and other late night hosts.

Stephen Colbert got an assist on 'The Late Show' from some of his late-night rivals following CBS's sudden decision to axe the show.

Here's a look at some of Stephen Colbert's most partisan moments from the past decade after it was announced on Friday that "The Late Show" would end in 2026.