The end of the 'Late Show' franchise is a major blow for a once-beloved TV format, which has lost relevance and advertising dollars.

It's difficult not to see how an ownership change impacted 'The Late Show' franchise, but the move also reveals stubborn truths about the cost of the programming vs. cheaper and infinite YouTube rivals.

“CBS canceled Colbert’s show just THREE DAYS after Colbert called out CBS parent company Paramount for its $16M settlement with Trump – a deal that looks like bribery,” Senator Elizabeth Warren wrote on X. “America deserves to know if his show was canceled for political reasons.”

"Just finished taping with Stephen Colbert who announced his show was cancelled," U.S. Sen. Adam Schiff, D-California, said in a post on X. "If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.

Colbert notably clowned Paramount and described the settlement as a “big fat bribe” on Monday’s show, jokes that sparked speculation that the program’s cancellation was politically motivated and led the show’s union to call for an investigation into CBS’ decision.

CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.

The show is the most-watched late-night program on U.S. broadcast television and a frequent platform of satire aimed at Trump. Colbert told his audience on Thursday that he was informed of his show's cancellation the night before.

A new report from Puck's Matt Belloni is shedding light on the finances that led to CBS' bombshell cancellation of "The Late Show with Stephen Colbert."

From the moment Stephen Colbert shared that The Late Show was canceled and he would depart in May, entertainment industry folks and politicians alike speculated that the reason for the host’s dismissal and the cancellation of his show was his outspoken politics,

CBS has claimed that the cancellation of Trump-bashing show was a ‘financial decision’ despite timing of merger

CBS just dropped a bombshell that left even seasoned media watchers slack‑jawed: The Late Show is ending. Not a host