Since Stephen Colbert announced that the "Late Show" was canceled, viewers and industry insiders alike have been quick to offer dueling explanations.

A new report revealed Stephen Colbert's manager knew about "The Late Show" cancellation weeks before the host, with sources claiming the decision was financially motivated.

The cancellation of Stephen Colbert's "Late Show" may do more harm than taking the show off the air. According to

"CBS Mornings" co-host Tony Dokoupil took exception to the liberal outrage over CBS' cancellation of "The Late Show with Stephen Colbert," citing political and financial factors.

The senator criticized the president and raised pointed questions about CBS’s decision to end "The Late Show."

Show' host, who started his Monday broadcast addressing his ‘Late Show’ counterpart’s cancellation, also posted on social media last week about the news.

CBS announced Thursday “The Late Show” will end in May at the end of its broadcast season. Though CBS and parent company Paramount said the choice to cancel the series was “purely a financial decision,” and the show was reportedly losing the network $40 million a year, many liberal commentators claim it was for political reasons.