David Letterman has called CBS and Paramount executives 'lying weasels' after they cited financial issues as the reason for cancelling The Late Show. ' However, Letterman expressed disbelief upon learning Colbert's show had been cancelled and argued that Colbert and his employees deserved better, as did his fans. According to Letterman, CBS does not share the books with him and TV may not be the money machine it once was, but he maintained that the financial explanation was false.
The cancellation drew skepticism from critics who noted that Paramount was finalizing a merger with Skydance Media requiring Trump administration approval, and Colbert has been a vocal critic of Trump. The cancellation came days after Colbert criticized Paramount for settling a lawsuit with Trump over a 60 Minutes interview edit. According to Letterman, Colbert was dumped because the people selling the network to Skydance wanted to avoid trouble and threw the show into the deal.
They're lying. Let me just add one other thing. They're lying weasels.
Letterman said he would be surprised if other late-night shows hosted by Seth Meyers, Jimmy Kimmel, and Jimmy Fallon lasted another year. ' He added that he doesn't think late-night will ever go away because 'it's just the best. ' The final episode of The Late Show is scheduled to air on May 21.
' Letterman previously worked with Byron Allen in the 1970s writing jokes for Jimmie Walker. Letterman passed the 11:30pm show onto Stephen Colbert in 2015 after serving as host for more than 20 years. CBS, owned by Paramount, announced the cancellation of The Late Show in July 2025.
To hell with CBS. To hell with Skydance. To hell with the [Ellison] twins or whoever the hell these guys are.
Paramount was purchased by David Ellison of Skydance Media in August 2025, with support from his father Larry Ellison. Letterman said 'They're lying' in reference to CBS's financial explanation.
If there's outrage to be directed at management, either real or imagined, I'm all in. Let's go.
What about the humanity for Stephen and the humanity of people who love him and the humanity for people who still enjoyed that 11:30 respite?
He was dumped because the people selling the network to Skydance said, 'Oh no, there's not going to be any trouble with that guy. We're going to take care of the show. We're just going to throw that into the deal. When will the ink on the check dry?'
He's been wildly more successful than any hundred of us. I periodically talk to him, and neither he nor I understand how he became a billionaire.
It's not completely dead on arrival, but I would be surprised if it lasts more than a year or so. But it's such an easy soothing format that it's got to stay on.
Well, maybe specific shows. I don't think it'll ever go away because it's just the best. It's humans talking to humans.
They don't share the books with me. All of television seems to have been nicked by digital communication and streaming platforms and on and on. TV may be not the money machine it once was.
I'm just going to go on record as saying: They're lying.