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."

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.

With the hosts Merv Griffin, Pat Sajak, David Letterman and Stephen Colbert, CBS has taken many runs at late-night TV. Some were more successful than others.

The occasional clip might go viral, and entertainment sites will write up the best parts of the monologue; the talk-show desk, however, no longer comes with a seat of cultural power. Colbert was once the most irreverent member of his late-night brethren (people forget what a bomb-thrower his satirical Colbert Report character could be),

Content promoting extreme weight loss and cosmetic surgery is available to young TikTok users, breaching the social media platform's own policies.

President Donald Trump was gleeful over Stephen Colbert's cancellation, saying his "talent was even less than his ratings" on Truth Social.

Shortly after CBS announced that 'The Late Show' had been canceled for financial reasons, prominent figures began openly speculating about the network's timing