Is Stephen Colbert's ‘Late Show' cancellation really about money, or something more?
Colbert's timing of his critical remarks about CBS was dangerous: Paramount is breathlessly awaiting approval from the Federal Communications Commission, led by a Trump loyalist, for its merger with Skydance Media, an $8 billion media megadeal set to produce
Advertisement
Paramount and CBS insisted Colbert's cancellation was not linked to politics (Trump is known to hate Colbert) or Colbert's biting comments about the CBS settlement. It's true that the Colbert show was seeing shrinking viewership and losing millions annually in recent years, but that sounded like spin to me. Nonetheless, media coverage mostly focused on the plight of the late-night television genre and the financial losses of the 'Late Show,' echoing the messaging of Paramount and CBS.
To me, Colbert's ouster was obviously political. His bosses' denials reminded me of when Washington Post owner Jeff Bezos refused to admit that he killed a presidential endorsement of Kamala Harris to avoid Trump's retribution. By ridding itself of Colbert and settling Trump's lawsuit, CBS climbed on the bandwagon of media companies that have bowed to the president. Goodbye standing up to Joe McCarthy and hello to capitulating to Trump.
Colbert joins other recent media casualties. Even before Trump moved into the White House,
Advertisement
Now, with the announcement of Colbert's cancellation, every late night host must be nervous. Jimmy Kimmel and Jimmy Fallon expressed their condolences to Colbert, and a
The political establishment never appreciated Colbert, who famously bombed as the comic chosen to perform at the 2006 White House Correspondents dinner. With President George W. Bush sitting a few feet away, his jokes about the failure of the Iraq War and illegal domestic eavesdropping seemed to fall flat, though I loved the routine and told Colbert so as he left the stage. But the next day he faced an onslaught of negative commentary.
It's fitting that the most vocal supporter of Colbert is his former Comedy Central buddy, Jon Stewart. Appearing on 'The Daily Show' on Monday night, he said
Now it's Rupert Murdoch who may face President Trump in court over a
Advertisement
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 minutes ago
- Yahoo
Trump deal with Europe underlines new standard of (at least) 15% tariffs
President Trump and European Commission President Ursula von der Leyen announced a trade deal Sunday with a range of somewhat vague plans for energy purchases and open markets but one thing crystal clear: a tariff rate of 15% on European goods. It's the latest example of a new tariff floor for Trump that has been backed by other recent deals and letters, including one with Japan this past week that also saw a 15% rate. "We'll have a straight simple tariff of anywhere between 15% and 50%," Trump asserted. Both Trump and von der Leyen highlighted the 15% rate Sunday after their meeting in Scotland. Trump claimed a 'straight-across tariff of 15%' for 'automobiles and everything else,' adding that US exports to Europe would face a 0% rate. Von der Leyen confirmed the 15% tariffs 'across the board and inclusive," adding that it would bring stability and predictability to US-Europe relations. Trump added that the deal includes hundreds of billions of dollars in new EU purchases of U.S. energy as well as military equipment. The 15% rate may get a mixed reaction in Europe after negotiators had previously pushed for free trade (or more recently a 10% rate), but it's a halving from the 30% tariffs Trump promised in a letter earlier this month. Sunday's agreement with the European Union — America's largest trading partner — comes following agreements with Vietnam, the Philippines, and Indonesia with saw tariff rates of between 19% and 20%. Only one negotiation has seen Trump agree to a tariff below 15% — a pact with the UK in May — with Treasury Secretary Scott Bessent writing earlier this month, "usually the first person who makes a deal makes the best deal." Some details unclear Trump also said Sunday that many of the remaining countries facing a deadline of August 1 would face a letter dictating rates, saying they would be be 'very universal for most' and that the European deal is 'the big one.' The president said three to four additional countries could be in for deals in the the coming days while most nations would simply get letters. In any case, the 15% baseline is a shift — even from recent weeks. Trump earlier this month said that many countries would see a rate of 'probably 10% or 15%, we haven't decided yet.' Even last Sunday, Commerce Secretary Howard Lutnick told CBS: "You should assume that the small countries... will have a baseline tariff of 10%." This new standard is also notable fulfillment of an oft-made campaign trail promise that saw the then-candidate pledge to create a "ring around the collar" of the US economy with a blanket rate of between 10% and 20%. Fulfilling that pledge — which was often dismissed as unrealistic at the time — has now become not only accepted but even a plus for markets after six months of Trump's second term have seen threats of higher duties that have reordered world trade actions. The recent announcement of the deal with Japan with a 15% tariff on goods like autos was welcomed by traders and helped fuel rises in US markets as well as the Japanese Nikkei 225, which immediately surged on the news. Japanese automakers in particular saw a jump after that deal as those companies celebrated a lowering of auto tariffs from 25% to 15%. European automakers now find themselves in a similar position. Trump, meanwhile, says he has no plans to amended his other sector specific tariffs as part of the European Union deal — even as Von der Leyen called the 15% tariffs 'inclusive." There are 50% tariffs currently levied on steel and aluminum (with planned duties at the same rate on copper), and Trump said Sunday that those tariffs are a "worldwide thing that stays the way it is." Trump also reiterated his promises of sectoral tariffs on semiconductors and pharmaceuticals to be rolled out, which could be much higher than 15% — unless Europe gets a carveout. Also on Sunday, Commerce Secretary Howard Lutnick said that a new semiconductor tariffs are nearly ready and would be unveiled in about "two weeks time." Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 minutes ago
- Yahoo
Jay Leno Warns Against One-Sided Political Jokes: ‘Why Shoot for Just Half an Audience?'
The former late night host's comments came days before Stephen Colbert announced the end of "The Late Show" Jay Leno has said for years that he doesn't understand why comedians would lean into one-sided political humor – and most recently cautioned against it just days before Stephen Colbert announced his late night show run on CBS was coming to an end. 'Comedy can be used to unite or divide people,' Leno said on July 15 during a conversation with David Trulio at the Ronald Reagan Presidential Foundation & Institution. Leno was asked for his thoughts on the intersection of comedic commentary and politics, two realms he sought for years to balance carefully. More from TheWrap Jay Leno Warns Against One-Sided Political Jokes: 'Why Shoot for Just Half an Audience?' | Video Speaker Mike Johnson Slams Ghislaine Maxwell's 20-Year Sentence: 'A Pittance' | Video The Best New Shows on Netflix in July 2025 Connie Chung Says 'Shame On' Shari Redstone and the Ellisons: 'I Fear the End of CBS as I Knew It' | Video The former late night host also said it was fun to receive letters from viewers who equally accused of him of being a Republican or a Democrat. They often were reacting to 'the same joke' he said, which was 'how you got the whole audience.' Leno reflected on his decades-long friendship with Rodney Dangerfield and noted, 'I knew Rodney for 40 years. I have no idea if he was Democrat or Republican. We never discussed it. We just discussed jokes.' 'And to me, I like to think that people come to a comedy show to kind of get away from the things, you know, the pressures of life or whatever it might be — and I love political humor,' Leno continued. After he was asked how to find 'common ground' through humor, Leno insisted that only catering to one political persuasion was ineffective. 'Well, why shoot for just half an audience all the time? You know, why not try to get the whole, I mean, I like to bring people into the big picture,'' he said. 'I don't understand why you would alienate one particular group, you know, or just don't do it at all.' Watch the interview in the video above. The post Jay Leno Warns Against One-Sided Political Jokes: 'Why Shoot for Just Half an Audience?' | Video appeared first on TheWrap.
Bloomberg
2 minutes ago
- Bloomberg
The Impact of President Trump's Trade War May Be Worse Than You Think
Never miss an episode. Follow The Big Take daily podcast today. For months, the impact of President Trump's aggressive trade policy has largely felt theoretical. But with an Aug. 1 tariff extension on the horizon and a consequential week ahead for the president's broader economic agenda, the cracks are beginning to show.
