In a stunning revelation that has rocked the entertainment world, Paramount Global president Jeff Shell reportedly claimed in a private September 2025 meeting that Stephen Colbert’s tenure on The Late Show has caused more damage to CBS than its successes have justified. The explosive allegation, leaked to industry insiders, comes on the heels of the show’s cancellation announcement for May 2026, igniting a firestorm of debate about Colbert’s legacy. As fans and critics clash online, one question burns: is Shell’s critique a fair assessment of Colbert’s impact, or a scapegoating move amid CBS’s broader struggles?
Shell, who assumed leadership after Skydance’s acquisition of Paramount, allegedly pointed to Colbert’s polarizing political commentary and costly production—exceeding $100 million annually—as dragging down the network’s reputation and finances. Despite The Late Show’s consistent ratings lead over rivals like Jimmy Fallon and Jimmy Kimmel, averaging 2.4 million viewers per night, Shell reportedly argued that its $40 million yearly losses and YouTube-heavy viewership (80% of its audience, per industry data) made it unsustainable. “Colbert’s activism hurt CBS’s brand more than his ratings helped,” a source quoted Shell, sparking outrage. Social media erupted, with one X post fuming, “Shell’s blaming Colbert for CBS’s mess? Unbelievable!” A TikTok video captioned, “Colbert’s a legend, not a liability!” went viral with 10 million views.
Colbert’s defenders highlight his accolades—a 2021 Peabody Award and six Emmy nominations—arguing his sharp satire and cultural relevance kept CBS competitive. “He’s been No. 1 for nine years!” one Instagram user posted, while another argued, “His Trump jabs made The Late Show iconic.” Yet, critics, including some CBS insiders, point to controversies like his 2024 comments on U.S. policy, which drew advertiser backlash, and a $16 million settlement over a 60 Minutes lawsuit as tarnishing the network. The debate raises a question: has Colbert’s bold style been a net positive, or a costly misstep for CBS?
The timing of Shell’s claim adds fuel to the fire. Paramount’s merger with Skydance, requiring Trump administration approval, has led some to speculate political motives behind the cancellation, a theory Colbert himself fueled by calling the settlement a “bribe.” Shell’s remarks, though not public, have intensified scrutiny, with one Reddit user noting, “This feels like a hit job to justify axing him.” Others defend Shell, citing late-night TV’s declining ad revenue—$220 million in 2024 versus $439 million in 2018, per Guideline. Is Colbert being unfairly blamed for industry-wide shifts?
Social media is ablaze with reactions. A viral TikTok montage of Colbert’s best monologues, captioned, “Shell can’t handle this brilliance!” has millions of likes, while an X poll asking, “Did Colbert ruin CBS?” shows a 60-40 split favoring him. The controversy taps into broader questions about late-night TV’s future: can hosts like Colbert thrive in a streaming-dominated era, or are networks cutting losses? Shell’s history at NBCUniversal, where he was ousted in 2023 over a sexual harassment complaint, adds skepticism to his critique, with fans questioning his credibility.
As The View’s recent drama with Whoopi Goldberg underscores TV’s volatile climate, Colbert’s final season looms as a battleground. Will he bow out with a bang, or fade under Shell’s shadow? For now, the allegation keeps The Late Show in the spotlight, with one Reddit user summing it up: “Colbert’s been CBS’s heart—Shell’s just playing the villain.” The question remains: is this a fair critique of a comedy titan, or a corporate move to deflect blame?
