Jon Stewart voices fears for his own future amid Stephen Colbert's AXING from late night show
On Thursday, CBS announced the cancellation of Colbert's late night talk show - just days after his furious rant live on air over the network's parent company Paramount settling a $16 million lawsuit with President Trump.
CBS issued a statement and explained the cancellation was 'purely a financial decision against a challenging backdrop in late night.' The Late Show will come to an official end next year in May 2026.
Stewart, 62, is known for hosting The Daily Show on Comedy Central - and is also owned by Paramount. The company is currently amidst an $8 billion merger with Skydance which is still on the table.
Jon opened up about what he thinks could happen to his series if the merger takes place on his The Weekly Show podcast on Thursday - with the episode dropping only hours before Colbert's axing was announced.
'Unfortunately, we haven't heard anything from them,' the TV personality explained. 'They haven't called me and said like, "Don't get too comfortable in that office, Stewart!"'
He then added, 'I've been kicked out of s******r establishments than that. We'll land on our feet.'
However, Stewart admitted that he 'honestly don't know' what the future of The Daily Show is.
The star began hosting the program back in 1999 until 2015, when he was replaced by Trevor Noah.
But the comedian's time on the talk show also ended in 2022, with guest hosts - including Stewart - rotating because a permanent host has yet to be chosen.
'I'd like to believe that... Like, without The Daily Show, Comedy Central is kind of like muzak at this point. I think we're the only sort of life that exists on a current basis other than South Park.'
Jon continued that he would 'like to think we bring enough value' to Comedy Central, 'but that may not be their consideration.'
Earlier this week on Thursday, CBS announced the cancellation of the The Late Show With Stephen Colbert - and the host will not be replaced.
In a statement, the network said: 'The Late Show with Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season. We consider Stephen Colbert irreplaceable and will retire the Late Show franchise at that time.
'We are proud that Stephen called CBS home. He and his broadcast will be remembered in the pantheon of greats that graced late night television.'
The network also emphasized that the decision to end the show is 'purely a financial decision against a challenging backdrop in late night.'
'It is not related in any way to the show's performance, content or other matters happening at Paramount,' the statement further read.
Paramount recently reached a $16 million settlement after Trump accused the company for falsely editing a 60 Minute interview with then-presidential candidate Kamala Harris.
Along with the settlement, the company also agreed to release unedited transcripts of 60 Minutes interviews with presidential candidates.
Colbert blasted Paramount's settlement with Trump live on air on Wednesday and claimed the company could have 'easily fought it.'
He stated that the entertainment company itself had previously stated that Trump's allegations had no 'merit.'
Stephen then joked, 'And keep in mind Paramount produced Transformers: Rise of the Beast. They know "completely without merit."'
Colbert also read out a fake statement from Paramount: 'You may take our money, but you will never take our dignity. You may, however, purchase our dignity for the low, low, price of $16 million. We need the cash.'
He further slammed the settlement, calling it a 'big, fat, bribe' amid Paramount's potential merger with Skydance - which needs the Trump administration's approval.
However, it has since been claimed that CBS canceled The Late Show With Stephen Colbert because it was losing $40 million a year.
Puck journalist Matthew Belloni revealed Colbert's astonishing lack of profitability Friday, hours after CNN first broke the news that the show was canceled because it was in the red.
Belloni outlined how The Late Show - whose cancelation was announced Thursday - costs $100m a year to produce, with Colbert getting paid between $15 million and $20 million a year to host.
Colbert beats ABC and NBC rivals Jimmy Kimmel and Jimmy Fallon in the ratings, but that still wasn't enough to save him.
Late night shows have slumped in profitability in recent years as viewers shun the format in favor of streaming services or watching content on their phones.
Advertiser revenue has slumped sharply even in the last three years, Puck reported, making it harder to pull Colbert's show out of the red.
Stephen was reported to be 'not angry, actually' about his cancelation and was chatting with his staff in a 'matter-of-fact' way before Thursday's show, Puck reported.
Colbert, who will broadcast his final show in May 2026, was first informed his show was on the chopping block around July 4, it is claimed. Paramount Co-CEO George Cheeks made the decision, Puck reported.
He the went on vacation, giving bosses at CBS time to plot behind his back, CNN reported. Colbert had news of his cancelation confirmed Thursday.
He moved to share it as quickly as possible so that his staff would not learn of their impending unemployment via leaks to the press.
All three major late night hosts - Colbert, Kimmel and Fallon - have become notorious for their regular rants about President Trump, which many viewers have complained are boring and off-putting.
But Belloni said he didn't believe the famously anti-MAGA Colbert was axed to appease Donald Trump, who recently won a $15 million payout from CBS after suing them over a 60 Minutes interview with Kamala Harris he said was deceptively edited.
The axing of Colbert has delighted Trump, who posted about it on his TruthSocial network earlier today.
Colbert's ouster could also make it easier for CBS parent company Paramount's efforts to merge with media company Skydance in a deal that must be approved by Trump's Federal Communications Commission.
Trump celebrated the news of the show's cancellation as a result.
'I absolutely love that Colbert' got fired. His talent was even less than his ratings,' he wrote in a Friday Truth Social post.
'I hear Jimmy Kimmel is next. Has even less talent than Colbert,' he added, before talking up right-wing Fox New star Greg Gutfeld.
'[He's] better than all of them combined, including the Moron on NBC who ruined the once great Tonight Show,' Trump added, referring to Jimmy Fallon. Trump previously worked for NBC during his days on The Apprentice.
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