The Late Show, hosted by Stephen Colbert, is set to be canceled despite having high ratings. Colbert expressed his frustration during the July 21 episode, questioning CBS's financial decision-making. He pointed out the show's impressive viewership juxtaposed with the reported $40 million annual loss. Colbert highlighted the company's recent legal settlement with Donald Trump as a potential reason for the cancellation. The episode also featured notable guests and a musical segment, celebrating the show's legacy while lamenting its impending end.
"It's sunk in that they're killing off our show, but they made one mistake. They left me alive."
"How can it be a purely financial decision if The Late Show is No. 1 in ratings?"
"40 million's a big number! I could see us losing $24 million, but where would Paramount have possibly spent the other $16 million - oh, yeah."
"Abribe amid Paramount's attempt to merge with David and Larry Ellison's Skydance, which still awaits approval by the FCC."
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