Stephen Colbert Was Number One in Late Night and Still Lost CBS Tens of Millions a Year
By Ejiro Akpobare
Published on April 29, 2026.
Stephen Colbert, the host of The Late Show for 11 seasons, has revealed that he was influenced by Paul Dinello's advice when he took over the show. The advice changed Colbert's personality and tone, allowing him to experiment with different tones and give audiences a more muted experience. This shift was immediate, with Colbert describing it as a shift from political satire to a more traditional format. However, CBS decided to cancel the show last summer due to financial issues, citing its strong ratings position as a factor. The cancellation has been blamed on traditional ad revenue shrinking and top performers not immune to this pressure. There is speculation that the show may not fit the current business model due to the shift in viewing habits.
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