Keith Olbermann refutes claims that Stephen Colbert’s CBS show was canceled for criticizing President Trump, citing financial losses.

Olbermann Responds to Speculation Over Colbert’s Firing

Former MSNBC host Keith Olbermann has dismissed the notion that CBS’s decision to end “The Late Show with Stephen Colbert” was politically motivated, as some have claimed in the wake of the network’s announcement. Olbermann responded to speculation on social media, where claims circulated that Colbert’s criticism of President Donald Trump led to the show’s cancellation. “Sorry. That's not what happened here. If it had, they wouldn't be keeping him on until next MAY,” Olbermann posted on X, countering assertions of political retribution.

CBS revealed that “The Late Show,” a late-night television mainstay for more than three decades, will conclude in May 2026 with Colbert as its final host. The show, previously helmed by David Letterman from 1992 to 2015, has maintained a prominent place in the network’s programming.

Olbermann’s remarks came in response to a viral post alleging, “We are officially at the ‘pulling comedians off the air who criticize our dear leader’ phase of fascism,” which referenced Colbert’s outspoken criticism of President Trump. Following the network’s announcement, political figures and media personalities weighed in, with some linking Colbert’s departure to larger political pressures. Vermont Senator Bernie Sanders suggested that CBS’s decision may have been influenced by its parent company’s merger talks with Skydance and recent legal settlements with President Trump. Sanders wrote, “Do I think this is a coincidence? NO.” California Representative Adam Schiff echoed calls for greater transparency, stating, “If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.”

CBS Cites Financial Losses, Not Politics

Despite the speculation, CBS has attributed the decision to end “The Late Show” to financial concerns, pointing to reported losses of approximately $40 million annually. While Colbert has consistently held the top spot among network late-night talk show hosts—averaging about 2.4 million viewers per episode—the broader late-night television landscape has faced shrinking viewership and falling ad revenues in recent years. Colbert, who took over after a celebrated run with “The Colbert Report,” opted for a more partisan, Trump-critical approach to his new role, drawing both loyal fans and detractors.

Speculation about a political motive grew after CBS recently settled a lawsuit brought by President Trump, who alleged that the network interfered with the 2024 election through the editing of a “60 Minutes” interview with his opponent, former Vice President Kamala Harris. Some critics questioned whether the network’s programming decisions were influenced by efforts to avoid further controversy or to facilitate corporate deals.

When President Joe Biden won the 2020 election, Colbert celebrated live on air, expressing visible relief and happiness at Trump’s defeat. His highly partisan commentary became a hallmark of the program during Trump’s presidency and beyond, making him a lightning rod for both praise and criticism in a divided political climate.

CBS has declined to elaborate further on its decision, and “The Late Show with Stephen Colbert” is set to end its long run in May 2026. As speculation continues, the debate over the intersection of entertainment, business, and politics on American television shows little sign of waning.