Jon Stewart gave more than his two cents on Monday night, making his opinion known in regard to what’s occurring on late-night TV. During quite a chaotic and opinionated monologue on “The Daily Show,” Stewart slammed CBS for its recent announcement that “The Late Show With Stephen Colbert” will end in May 2026. The official reason? A “purely financial decision,” according to the network’s parent company, Paramount Global. Stewart, however, isn’t buying it. Safe to say he made that pretty crystal clear to the audience in the studio and those at home.
“Stephen has been canceled for ‘purely financial reasons,’” Stewart said with a face full of doubt. “Right. And I’m the f—ing Tooth Fairy.”
He accused Paramount of folding under pressure from Donald Trump, just days after settling a $16 million lawsuit the former president filed over a ”60 Minutes” segment. That context, Stewart said, matters a lot. “I believe CBS lost the benefit of the doubt when they sold out their flagship news program to pay,” he told viewers.
Stewart then launched into a pointed critique of the network’s priorities. “Truly, the shows you now seek to cancel, censor, and control? A not insignificant portion of that $8 billion merger value came from those f—ing shows. That’s what made you that money.”
‘This Ain’t the Time to Shrink’
Stewart didn’t just defend his friend; he defended the very idea of what late-night TV should stand for. He framed “The Late Show’s” cancellation as a broader act of “fear and precompliance,” saying institutions across America are bending under imagined pressure from political backlash rather than standing up for expression.
“We are all basically operating a Blockbuster kiosk inside of a Tower Records,” Stewart admitted, addressing the financial realities of late-night. “But when your industry is faced with changes, you don’t just call it a day. My God, when CDs stopped selling, they didn’t just go, ‘Oh well, music, it’s been a good run.’”
He also went on to speak about unfairness when it comes to corporate decision-makers, saying, “If you think you can make yourselves so innocuous, that you can serve a gruel so flavorless that you’ll never again be on the boy king’s radar—why will anyone watch you? And you are f—ing wrong.”
And he didn’t stop there.
In a gospel-style musical number that closed out the nearly 30-minute segment, Stewart belted out his final verdict. “This ain’t the time to shrink. This is the time to fight,” he told the audience.
Legacy & Loyalty
Stewart and Colbert go way back. Before “The Late Show,” before “The Colbert Report,” they were just two guys cracking wise on “The Daily Show.” And together, they changed late-night forever.
That success, he reminded CBS, is exactly what made “The Late Show” worth fighting for. Now, Stewart is, let’s call it, letting it be known, to not just his bosses but every network executive hoping to play it safe.
“I’m not giving in. I’m not going anywhere… I think.”
The Colbert Fallout & Who’s Backing Him
Colbert himself didn’t stay quiet. On “The Late Show,” just hours after the cancellation news, he looked straight into the “Eloquence Cam” and addressed Trump’s claim that he “loved” Colbert getting fired.
Meanwhile, fellow “Daily Show” alum John Oliver echoed the sentiment, joining Stewart in solidarity on air. While he didn’t unleash the same verbal firestorm, his presence alone signaled where his loyalties lie.
And fans? They’re watching it all unfold with disbelief. After all, “The Late Show” wasn’t doing bad at all. It was still the highest-rated late-night network show. The idea that CBS would cancel a flagship show while eyeing an $8 billion merger with Skydance Media feels, at best, a little bit suspicious.
Still, he’s received numerous supports from several big names, including other related night hosts Jimmy Fallon and Jimmy Kimmel. Which is truly refreshing to see, especially since they are all in the same field.
“Everybody is talking about CBS’ decision to end The Late Show with Stephen Colbert, and many people are now threatening to boycott the network,” Fallon said on “The Tonight Show Starring Jimmy Fallon.” CBS could lose millions of viewers plus tens of hundreds watching on Paramount+. Stephen has done years of incredibly smart and hilarious television, and he’s won 10 Emmys.”
Sharing to his Instagram stories, Kimmel went on to say, “Love you Stephen. F*** you and all your Sheldons CBS.”
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Jon Stewart Goes Hard in Defending Pal Stephen Colbert: VIDEO