Stephen Colbert's Sarcastic 'Love Letter' to Paramount CEO David Ellison

Stephen Colbert kicked off his Thursday night show with a hilariously barbed "I love you" to his new boss, Paramount CEO David Ellison, jokingly hoping it might buy his soon-to-be-canceled show a few more months.

TL;DR – Quick Takes on Colbert's Latest Move:

• On National Boss's Day (October 16, 2025), Stephen Colbert sarcastically declared his "love" for new Paramount CEO David Ellison during his opening monologue.
• Colbert quipped that his flattering remarks might "buy us a couple more months" for The Late Show, which is set to end in May 2026.
• The show's cancellation, announced in July, is officially attributed to financial reasons, but many insiders and Colbert himself suspect political motivations linked to a large settlement paid to Donald Trump and the Paramount-Skydance merger.

Stephen Colbert's National Boss's Day Tribute Takes a Sharp Turn

Well, folks, Stephen Colbert sure knows how to celebrate! This past Thursday, October 16, 2025, which also happened to be National Boss's Day, The Late Show host used his opening monologue to deliver a truly unforgettable tribute. But this wasn't your usual office appreciation email; it was a classic Colbert jab, aimed squarely at his new top boss, Paramount CEO David Ellison.

Colbert started out light, talking about the usual awkward elevator chitchat bosses get on their special day. But then, things got spicy. Looking straight into a camera labeled "David Ellison Appreciation Cam" (complete with a superimposed smiling photo of the CEO), Colbert laid it on thick.

"I want to take a moment to celebrate my new boss, Paramount CEO David Ellison: Mr. Ellison, I love you."

— Stephen Colbert on The Late Show

After a dramatic pause for laughs, he delivered the punchline with a wink: "That oughta buy us a couple more months." Ouch! Or maybe, just maybe, it was a desperate plea disguised as a joke.

The Impending End of an Era for Late-Night Television

If you've been following the late-night scene, you'll know exactly what Colbert was referencing. Back in July, CBS dropped the bombshell that The Late Show with Stephen Colbert will be ending its impressive decade-long run in May 2026. This means Colbert, who has been a staple of late-night since 2015, will be out of a job, and a significant era for the network will close.

CBS and its parent company, Paramount, have publicly stated that the decision to axe the consistently top-rated show was "purely financial." They claim the show was losing a whopping $40 million annually, citing dwindling ad revenues and a changing media landscape as the culprits. Sounds like standard corporate speak, right?

Is There More to the Story Than Just Money Troubles?

However, many, including some of Colbert’s fellow late-night hosts like ABC's Jimmy Kimmel, aren't buying the "purely financial" explanation. The timing of the cancellation raises a lot of eyebrows, happening just days before the Trump administration approved Paramount's massive $8 billion merger with Ellison’s Skydance Media company. You can practically smell the conspiracy theories brewing!

Adding another layer to this complex cake, the cancellation also came hot on the heels of Paramount settling a "frivolous" defamation lawsuit with former President Donald Trump for a hefty $16 million in July. This settlement was allegedly over a 60 Minutes interview, and it became a huge point of contention for Colbert.

Colbert's Bold Accusations Against His Own Network

Colbert didn't hold back at the time, even criticizing his own employer on air for what he openly called a "big fat bribe." He suggested that Paramount paid Trump to smooth over regulatory approvals for their merger with Skydance, effectively accusing his company of making a questionable deal with a "sitting government official."

"While I was on vacation, my parent corporation, Paramount, paid Donald Trump a $16 million settlement over his 60 Minutes lawsuit. As someone who has always been a proud employee of this network, I am offended. And I don’t know if anything will ever repair my trust in this company, but just taking a stab at it, I’d say $16 million would help… I believe this kind of complicated financial sentiment with a sitting government official has a technical name in legal circles. It’s ‘big fat bribe,’ because it all comes as Paramount’s owners are trying to get the Trump administration to approve the sale of our network to a new owner, Skydance!"

— Stephen Colbert

That's a pretty strong stance against your own bosses, especially when your show is rumored to be "on the chopping block" due to its high production costs. Insiders from CBS even told The Independent that while the show's costs were a factor, many staffers believed the cancellation was politically motivated, a continuation of the "Trump shakedown" that started with the settlement. Another staffer reportedly told Status News, "What better gift could the Ellisons give Trump than to get rid of Colbert...?"

Donald Trump's Reaction: Cheers and More Jabs for Late-Night Hosts

And how did the former President react to news of Colbert’s show ending? With pure delight, of course. Trump took to Truth Social, boasting:

"I absolutely love that Colbert got fired. His talent was even less than his ratings. I hear Jimmy Kimmel is next. Has even less talent than Colbert! Greg Gutfeld is better than all of them combined, including the Moron on NBC who ruined the once great Tonight Show."

— Donald Trump on Truth Social

Never one to miss an opportunity to throw a few more jabs, Trump extended his criticism to other late-night hosts, making it clear where he stands on the matter.

New Leadership, New Controversies: David Ellison's Impact on CBS News

David Ellison, who officially took the reins of the newly formed Paramount Skydance in August, hasn't exactly been flying under the radar either. He's faced a flurry of criticism, particularly from CBS News staffers, who feel he's been pushing the network to the right to appease the White House. This comes after his pledge not to "politicize" the network – a promise some feel he hasn't kept.

Just last week, Ellison made waves by announcing the hiring of Bari Weiss as CBS News editor-in-chief and the acquisition of her "anti-woke" digital outlet, The Free Press, for $150 million. These moves, along with hiring a former Trump appointee and conservative think tank leader as ombudsman and revamping editing rules after White House complaints, have reportedly caused some CBS News staffers to "literally freak out" and even led to at least one senior news executive's resignation.

The Ongoing Scrutiny of the Paramount-Skydance Merger

The entire situation—the show's cancellation, the $16 million settlement, and the merger itself—is now under a Democratic-led investigation. House Democrats are looking into whether Ellison and Paramount violated anti-bribery statutes, especially considering Trump's claims of a "side deal" with Ellison and pre-merger concessions made to the FCC. It's a tangled web of media, money, and politics, and Colbert's sarcastic remarks on National Boss's Day just added another layer of intrigue.

While Colbert's "love" might not genuinely extend his show's life, it certainly gave us all a good laugh and highlighted the intense, often politically charged, world of network television and corporate mergers. We'll be watching to see how this unfolds as The Late Show counts down to its final episode in May 2026.

Frequently Asked Questions About The Late Show's Future When is Stephen Colbert's The Late Show officially ending? The Late Show with Stephen Colbert is scheduled to air its final episode in May 2026, marking the end of Colbert's ten-year tenure as host. Why was The Late Show with Stephen Colbert canceled? CBS and Paramount officially stated the cancellation was due to "purely financial" reasons, citing dwindling ad revenues and annual losses. However, many insiders and critics, including Colbert himself, suspect political motivations tied to a $16 million settlement with Donald Trump and the approval of the Paramount-Skydance merger. Who is David Ellison and what is his role? David Ellison is the CEO of Skydance Media, which recently merged with Paramount. He is now the CEO of the newly formed joint company, Paramount Skydance, and Colbert's new boss. What was the controversy surrounding Paramount's settlement with Donald Trump? Paramount paid Donald Trump $16 million to settle a defamation lawsuit over a 60 Minutes interview. Stephen Colbert publicly criticized this as a "big fat bribe," suggesting it was done to secure regulatory approval for the Paramount-Skydance merger from the Trump administration. This settlement and the subsequent cancellation of Colbert's show are now under investigation. Sources

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