Two of Paramount Global’s biggest stars, Stephen Colbert and Jon Stewart, demonstrated they don’t intend to pull their punches despite the fact that the company’s soon-to-be owners might be skittish about political fallout from a thin-skinned president.
Returning from a break with a mustache and an attitude, “The Late Show” host Colbert unloaded on Paramount for its $16 million settlement with President Donald Trump regarding a “60 Minutes” segment on Kamala Harris, referring to the payment as a “big fat bribe” to get rid of a “nuisance lawsuit.”
Stewart, for his part, took Paramount to task with equal gusto on last week’s show, asking in regard to the lawsuit, “Why didn’t they fight it?,” and joking to former “60 Minutes” correspondent Steve Kroft — who described the payout to Trump as “a shakedown” — “I’m obviously not a lawyer, but I did watch ‘Goodfellas.’ That sounds illegal.”
Those comments follow a recent report from Status.news speculating that Colbert and Stewart’s programs could be on the chopping block or face pressure after the Paramount-Skydance Media merger is officially approved, questioning whether the new owners, billionaire Larry Ellison and his son David, had an appetite for dealing with potential fallout from such programming.
But Colbert leaned into the issue on his show on Monday, pointing to his new mustache and jokingly asking, “How are they going to pressure Stephen Colbert, if they can’t find him?”
CBS declined comment, but it’s no secret the economics of late night have already been shifting. CBS has already thrown in the towel on the slot after Colbert by canceling the comedy-game show “After Midnight” in March and giving that time back to its stations. Other cost-cutting moves have been evident across other late night shows, such as NBC’s Seth Meyers dropping his house band last year.
As one network source noted, late-night hosts rank among the biggest stars and most recognizable faces on their respective networks, even if their shows no longer represent the cash cows they once did.
Colbert remains a signature talent for CBS and Paramount that goes well beyond his own program, including hosting award shows and his broad cultural footprint. While there has been speculation about whether he’ll opt to continue when his contract expires at the end of next year (he signed his last extension in 2023), having the network choose to cut ties with him — especially in the current climate — would likely trigger a public-relations storm.
Having returned to Comedy Central in early 2024 after his first Emmy-dominating run, Stewart has his own adoring following, but his future could be another matter. After all, he walked away from “The Daily Show” once and came back on a basis that sees him hosting one day a week, while grooming talent to keep the franchise going — something he has done quite effectively, given that Colbert, John Oliver, Steve Carell, Trevor Noah, Jessica Williams and Samantha Bee are among the long list of well-known alumni.
Stewart extended his “Daily Show” deal through 2025 in late October, although given his other activities — which have ranged from political advocacy to directing — there’s no certainly he’ll choose to stay beyond that, particularly if he faces any interference from management, which could provide the new owners an out if they so desire.
There’s a proud tradition of late-night hosts demonstrating their independence by thumbing their noses at their bosses, not just with what they say. During the last writers strike, Colbert, Meyers, Jimmy Kimmel, Jimmy Fallon and John Oliver teamed up to produce a podcast, “Strike Force Five,” to demonstrate both solidarity with the writers and help raise funds to support them.
If Skydance harbors any illusions that they can put any acrimony involving Trump and CBS behind them strictly by virtue of the president’s relationship with CEO David Ellison and his father, Oracle co-founder Larry Ellison, who Trump has praised, the hosts appear to have sent their message loud and clear. As for the president (and his Federal Communications Commission chairman, Brendan Carr), it’s equally evident that Trump — emboldened by his various victories in extracting acts of corporate capitulation — will pressure media outlets as far as the new management team will let him.
So while late-night TV almost certainly won’t be the Ellisons’ top priority when and if they officially take over, with a movie division, streaming service, portfolio of cable networks and, yes, CBS News to consider, it’s one of those areas with inordinately high potential to drag them, however reluctantly, into the spotlight.
Just ask Shari Redstone for a preview of what that’s like.
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