Why is Stephen Colbert show being cancelled?

CBS decision to cancel “The Late Show With Stephen Colbert” has left the presenter's fans devastated.

According to the US media, with it's decision to end Colbert's show the broadcaster is removing from air one of President Donald Trump’s most prominent and persistent late-night critics.

CBS said “Late Show” was canceled for financial reasons, not for content. 

Associated Press reported that the timing of the decision, which came  three days after Colbert criticized the settlement between Trump and the parent company of CBS, led two US senators to publicly question the motives.

Colbert told his audience at New York’s Ed Sullivan Theater that he had learned Wednesday night that, after a decade on air, “next year will be our last season. ... It’s the end of ‘The Late Show’ on CBS. I’m not being replaced. This is all just going away.”

In his Monday monologue, Colbert said he was “offended” by the $16 million settlement reached by Paramount, whose pending sale to Skydance Media needs the Trump administration’s approval. He said the technical name in legal circles for the deal was “big fat bribe.”

“I don’t know if anything,  anything, will repair my trust in this company,” Colbert said. “But, just taking a stab at it, I’d say $16 million would help.”

Trump had sued Paramount Global over how “60 Minutes” edited its interview last fall with Democratic presidential candidate Kamala Harris. Critics say the company settled primarily to clear a hurdle to the Skydance sale.

The president, a longtime target of Colbert, on Friday said on Truth Social that “I absolutely love” that Colbert was “fired.” In his message, he insulted the late-night hosts on ABC, CBS and NBC.