Breaking down claim CBS was losing $40M a year on Colbert's 'Late Show'

In July 2025, as some lawmakers and critics of CBS' decision to cancel "The Late Show with Stephen Colbert" questioned the network's motives, social media posts claimed the popular late-night show was losing at least $40 million per year.

"FACT CHECK: Stephen Colbert's show was canceled for no other reason than it was losing about $40-$50 million per year, despite Democratic claims that 'politics' played a factor," one Facebook post shared on July 19 read.