A joint statement from Co-CEO Paramount Global and President and Chief Executive Officer George Cheeks, CBS Entertainment President Amy Reisenbach, and CBS Studios President David Stapf addressed why The Late Show was so suddenly cancelled:

The late night host looks ahead to the next 10 months, assuring his crew and studio audience, "It's going to be fun."

Many questioned the timing of and motivation for the announcement, noting that Mr. Colbert hosted the most-watched show in late night television.