President Trump cheered the cancellation of "The Late Show with Stephen Colbert," saying he "absolutely loves" that Colbert "got fired."

In a statement on Thursday, the network said the late-night talk show was being canceled for financial reasons. Those reasons are associated with Paramount's proposed merger with Skydance Media, which requires Federal Communications Commission (FCC) approval under the Trump administration. Paramount is the parent company of CBS.

On Thursday night, Stephen Colbert announced that CBS has canceled The Late Show. The iconic late-night series, which ran for over 30 years between both Colbert and David Letterman's tenures as host, will end in May 2026.

Network late-night shows have been losing viewers for years, but Colbert‘s program is primed for a ratings bump right now.

Comedian Rosie O’Donnell took to TikTok to voice her concerns about which of Trump’s critics could be next following the news CBS was axing The Late Show, hosted by Stephen Colbert, earlier this week.

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.