- - David Letterman calls Paramount 'gutless' for canceling Stephen Colbert's 'Late Show'

KiMi Robinson, USA TODAY July 25, 2025 at 10:45 PM

David Letterman is questioning the motivations behind the shock cancellation of his former CBS home, "The Late Show."

Speaking with former "Late Night with David Letterman" colleagues Barbara Gaines and Mary Barclay in a July 25 clip from "The Barbara Gaines Show" on Letterman's YouTube channel, the 78-year-old comedian did not hold back. He threw barbs at CBS parent company Paramount Global and David Ellison, who's slated to become CEO after Paramount merges with his Skydance Media in an $8.4 billion deal.

"It's all very strange. It's very complicated, but it was a bit of a surprise, wasn't it?" Letterman said. As the 14-minute Zoom conversation continued, he eventually called Paramount pulling the plug on Stephen Colbert's show "pure cowardice" and "gutless."

Letterman hosted the show from 1993 until 2015, at which point Colbert took over post-"Colbert Report." After Colbert announced on July 17 that "The Late Show" would be ending in May after more than 30 years, Paramount released a statement that called the move "purely a financial decision against a challenging backdrop in late night."

The media company also maintained: "It is not related in any way to the show's performance, content, or other matters happening at Paramount."

While Colbert's show is the top rated at 11:30 p.m. ET/PT, it was losing a reported $40 million a year.

David Letterman blasts explanation that 'Late Show' was canceled for financial reasons

Letterman speculated that Paramount is capitulating to Ellison, who might not "want any trouble from that guy," referring to Colbert, long known for his political satire and criticism of President Donald Trump.

"Not only are we going to get rid of that guy, we're going to get rid of the whole franchise so you don't have to worry about another guy," Letterman said in an impersonation of Paramount executives. "It's gone, buddy!"

"I think it's sad, but what this indicates also is (Ellison doesn't) want any trouble along the lines of freedom of the press or free speech or freedom of expression," Letterman surmised. "They don't want to get their hands dirty; they don't want the government going after them."

David Letterman speaks during the taping of the "Vax Live" fundraising concert at SoFi Stadium in Inglewood, California, on May 2, 2021.

He also cast doubt on the explanation that the "Late Show" cancellation was "purely a financial decision."

"I don’t think it was money. I think it was all to make sure (Ellison was) solid spending dad’s (Larry Ellison's) money," he said.

"You're telling me losing this kind of money happened yesterday?" he said. "I bet they were losing this kind of money a month ago. I'll bet they were losing this kind of money six weeks ago, or they have never been losing money.

"Take a look at the CBS News. It's still in business, and I'm not certain that that's a profit center," he continued.

What Letterman said before: The ex-host's subtle jab at CBS amid Colbert 'Late Show' cancellation

'We've all got to kiss Stephen Colbert's ring'

Letterman, who was complimentary of Colbert and the work he's done since taking over Letterman's show, went on to excoriate Paramount's treatment of its star talent.

"They did not do the correct thing. They did not handle Stephen Colbert, the face of that network, in the way he deserves to have been handled," he said.

Letterman went on to declare that those who decided the fate of "The Late Show" would regret the move.

"One day, if not today, the people at CBS who have manipulated and handled this are going to be embarrassed because this is gutless," Letterman said.

"Now we've all got to kiss Stephen Colbert's ring now," he added, joking that he's a "martyr" for his firing.

This article originally appeared on USA TODAY: David Letterman calls 'Late Show' cancellation 'gutless'

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