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Jon Stewart delivered a scathing on-air rebuke of CBS and its parent company, Paramount Global, on Monday’s episode of “The Daily Show,” blasting the network’s decision to cancel “The Late Show with Stephen Colbert” and accusing executives of capitulating to political pressure from President Trump.
Stewart, whose shows airs on the Comedy Central cable channel that is also owned by Paramount Global, cited the $8 billion merger between Paramount and Skydance Media as one of the factors that led to the decision to axe the show, which had been hemorrhaging tens of millions of dollars annually.
Stewart, joined by NBC “Tonight Show” host Jimmy Fallon, “Late Night with Seth Meyers” host Seth Meyers, “Daily Show” alum and HBO star John Oliver, and former “Saturday Night Live” star Adam Sandler made a cameo at the Ed Sullivan Theater where Colbert’s show is filmed and offered their support for the star.
Stewart said that the merger, which is awaiting federal approval, would not have been possible without CBS programs like “The Late Show” since it made the Tiffany Network valuable as a property.
“Shows that say something, shows that take a stand, shows that are unafraid — this is not a ‘We speak truth to power.’ We don’t,” said Stewart, who last week addressed speculation that Colbert would be canceled.
“We speak opinions to television cameras. But we try. We f–king try, every night.”
“And if you believe, as corporations or as networks, you can make yourself so innocuous that you can serve a gruel so flavorless that you will never again be on the boy king’s radar — a.) why will anyone watch you? And you are f–king wrong,” he added.
His profanity-laden monologue culminated in a performance with a church choir chanting, “sack the f–k up” or “go f–k yourself.”
Because Comedy Central airs on cable, the segment was uncensored and not subject to network profanity regulations. Paramount and Comedy Central did not immediately respond to requests for comment.
The Post has also sought comment from Skydance and CBS.
Later that night, Colbert also responded during his own show, echoing Stewart’s anger and directing his own “go f–k yourself” at Trump, who had celebrated the program’s cancellation.
Colbert mocked the network’s agreement with the president as a “big fat bribe” and warned, “They left me alive. And now for the next 10 months, the gloves are off.”
The backlash comes just days after CBS confirmed it would end “The Late Show,” which Colbert has helmed since 2015. The network characterized the move as “purely a financial decision” unrelated to “performance, content or other matters happening at Paramount.”
Despite CBS’s claims, the cancellation ignited speculation that the show — known for its frequent critiques of Trump — was a casualty of Paramount’s efforts to smooth regulatory approval for its merger with Skydance.
The merger, which would create the new Paramount Skydance Corporation, is still awaiting clearance from the Federal Communications Commission (FCC).
That process has taken on political overtones, particularly after Skydance CEO David Ellison met with FCC Chairman Brendan Carr last week and pledged to reflect “diverse viewpoints” that capture “the varied ideological perspectives of American viewers.”
Colbert’s late-night career traces back to “The Daily Show,” where he joined Stewart in 1997. The two have maintained a close relationship since.
In 2005, Colbert launched “The Colbert Report,” which aired after “The Daily Show” and catapulted him into late-night stardom.
On Monday’s “Daily Show,” Stewart praised Colbert’s bold decision to take on the CBS gig, calling it a leap into a world of “intense scrutiny and a vastly larger audience.”
“Watching Stephen exceed all expectations in the role and become the No. 1 late-night show on network television has been an undeniable great pleasure for me — as a viewer and as his friend,” Stewart said.
He also acknowledged the financial headwinds facing late-night TV.
“We’re all basically operating a Blockbuster kiosk inside of a Tower Records,” Stewart said. But he added that industries shouldn’t simply fold when formats change.
“When CDs stopped selling, they didn’t just go, ‘Oh, well, music, it’s been a good run,’” he quipped.
Stewart noted that he had not heard from Paramount about the future of his own show amid the pending merger but closed with a defiant message: “This is not the moment to give in. I’m not giving in. I’m not going anywhere — I think.”
Ellison is the son of Oracle co-founder and Trump ally Larry Ellison. Though the younger Ellison donated to Joe Biden’s campaign in early 2024, Trump has since expressed support for the merger and the combined company’s extensive assets, including CBS, Nickelodeon, Comedy Central, BET, MTV and blockbuster franchises like “Sonic the Hedgehog” and “Smurfs.”
The late-night segment followed Paramount’s recent $16 million settlement with Trump over a lawsuit alleging CBS’s “60 Minutes” manipulated a 2024 interview with then-Vice President Kamala Harris to favor Democrats.
Trump had initially demanded as much as $20 billion in damages. The president also claimed that the settlement could be as high as $35 million, though Paramount has denied this.
Although most legal experts dismissed the case as lacking merit, Paramount ultimately agreed to settle — covering Trump’s legal fees and earmarking the remaining funds for his future presidential library.
The settlement did not include any admission of wrongdoing or an apology, nor were any funds paid directly or indirectly to Trump or his co-plaintiff, Texas Rep. Ronny Jackson.
As part of the deal, CBS also committed to releasing full written transcripts of future “60 Minutes” interviews with presidential candidates, barring legal or national security redactions.
The settlement discussions and subsequent agreement caused turmoil inside CBS News. In April, longtime “60 Minutes” editor Bill Owens resigned, citing a loss of editorial independence.
Wendy McMahon, president and CEO of CBS News & Stations, followed suit in May. In June, “60 Minutes” correspondent Scott Pelley warned that the settlement would be “very damaging” to the network’s credibility.
During Monday’s show, Colbert brought on Lin-Manuel Miranda and “Weird Al” Yankovic to lighten the mood with a Coldplay cover.
The show’s kiss cam featured Anderson Cooper, Andy Cohen, Fallon, Meyers and a cartoon Trump dancing with the Paramount logo — an apparent nod to a recent viral incident at a Coldplay concert that resulted in a tech CEO’s resignation.
