Stephen Colbert is asking why The Late Show was canceled for financial reasons if CBS’ parent company Paramount can offer $108 billion to acquire Warner Bros.
“Right now, there’s a huge bidding war going on over who’s gonna buy Warner Bros,” the host explained in his Dec. 8 monologue. “Warner’s got a lot of juicy IP. We’re talking DC superheroes, Harry Potter, Looney Tunes, Scooby-Doo, Fifty Shades of Grey, and The Lord of the Rings.”
Last week, a Netflix representative confirmed to Entertainment Weekly that the streamer had “entered into a definitive agreement” with Warner Bros. to acquire the Hollywood titan for a reported $82.7 billion.
However, as Colbert noted, “My beloved parent company, Paramount, reportedly launched a hostile takeover bid for Warner Bros valued at $108 billion.”
Stephen Colbert on ‘The Late Show’
The large lump sum took Colbert by surprise. “Wow. I gotta say,” he began, “if my company’s got that kind of green, I’m sure they can afford to uncancel one of their best shows.”
The audience immediately rallied behind the host as they cheered and applauded the idea.
“CBS, you heard the people, bring back The Equalizer!” Colbert teased as a banner for Queen Latifah’s shuttered series was featured onscreen. “We need our Queen to return. Why do you think America has become so unequalized?”
In July, CBS announced that The Late Show would be officially signing off at the end of its season in May 2026. At the time, the company said in a statement that the move was “purely a financial decision against a challenging backdrop in late night.”
However, many questioned the timing of the announcement given that, just days earlier, Colbert had called out Paramount for settling a suit filed by President Donald Trump that some legal observers believe should’ve been dismissed on First Amendment grounds.
Others, like former Late Night host David Letterman, also floated the idea that the series may have been axed in order to minimize complications with the Federal Communications Commission over Paramount’s merger with Skydance media group.
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During his monologue, Colbert pointed out that Paramount didn’t put up the large amount of money on their own.
“Their bid includes 24 billion dollars from Saudi Arabia, Qatar, and Abu Dhabi wealth funds,” he said. “And when the dictator of Saudi Arabia gives you billions of dollars, I’m sure there’s no catch!”
He quipped, “In a totally unrelated story, I’m looking forward to next season’s new CBS hit comedy, Young Muhammad Bin Sheldon.”
Watch Colbert discuss Paramount’s hostile takeover to try and acquire Warner Bros. in the clip above.
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