CBS said the cancellation wasn't related to "content or other matters happening at Paramount." Paramount controversially agreed to settle a lawsuit brought by Trump over a "60 Minutes" interview with then-presidential candidate Kamala Harris.

John Oliver, Stephen Colbert's fellow "Daily Show" alum, is speaking out about CBS' shock cancellation of "The Late Show."

Fox News Digital spoke with CBS insiders who question the timing of the network's shocking decision to cancel "The Late Show with Stephen Colbert" next year.

Stephen Colbert’s show is being canceled just as a major media merger requiring Trump administration approval moves forward, raising fears of political pressure on the press. On Morning Joe, Molly Jong-Fast calls the moment “really scary” and points to a broader fight: Rupert Murdoch,

John Oliver has weighed in on CBS' cancellation of "The Late Show With Stephen Colbert," calling it "terrible news for the world of comedy."

CBS parent Paramount insists that this week's decision to cancel Steven Colbert's “Late Show” was strictly financial, and had nothing to do with politics.

Despite the setback, local leaders and state officials say they remain committed to preparing the site and pursuing new partners.

“Last Week Tonight” host John Oliver noted that the cancellation of “The Late Show with Stephen Colbert” is “very sad” while speaking with reporters Saturday night. Oliver added of his friend, “I love Stephen, I love his staff. I love that show, it’s incredibly sad.”

The former "Late Show" host took on the network after it announced its plans to take his old program off the air.