Stephen Colbert has spoken at length for the first time about the unexpected cancellation of The Late Show and the swirling theories regarding whether the decision was made to placate President Donald Trump. In a wide-ranging interview with GQ, published on November 3, the longtime CBS host discussed his reaction to the network’s choice, the speculation about political interference, and how he intends to approach the final months of his decade-long tenure at the helm of the iconic late-night program.

Colbert told GQ he was genuinely caught off guard when CBS informed him that the show would be coming to an end, especially given that it continues to lead the late-night ratings. He acknowledged that the television industry is unpredictable, and that even the most successful shows are ultimately vulnerable to decisions made far above the talent’s control. “Every show comes to an end eventually,” he reflected. “I’ve been on shows that ended because we chose to wrap them up, and I’ve been on shows that were ended by someone else’s choice. That’s just how show business is. You have to accept that and not take it so personally.”

Yet he stressed that he believed The Late Show’s cancellation broke new ground. “I think we’re the first number one show to ever get canceled,” he said, emphasizing how unusual it felt to have a top-rated program pulled off the air. CBS announced in July that The Late Show would end in May 2026, citing financial pressures and shifting corporate priorities as the driving reasons. But the public response to the announcement was swift, and many observers pointed to a possible political motivation.

The theory gained momentum because of events that unfolded just days before CBS made the cancellation official. Colbert had delivered a blistering criticism on his show after Paramount, CBS’s parent company, agreed to pay a $16 million settlement to President Trump to resolve a lawsuit. On air, Colbert called the payout a “big fat bribe,” framing it as an attempt by the company to seek favor with Trump. The settlement had raised eyebrows because Paramount’s own legal team had reportedly deemed the lawsuit baseless. Two days after Colbert made his pointed remarks, CBS announced the end of The Late Show, which led many to connect the dots and assume retaliation or appeasement might have played a role.

In the GQ interview, Colbert didn’t endorse the theory outright but acknowledged why people see a link. “My reaction as someone working in this business is simply to say: that was the network’s decision,” he said diplomatically. However, he made clear that he recognizes why the public perceives a connection. “I get why people think that. CBS or the parent company — I don’t know who exactly, because no one’s going to tell us — made the choice to write a $16 million check to the president of the United States for a lawsuit their own lawyers said had no merit.”

He added that the decision baffled him, not just legally but from a reputational standpoint. “It’s obvious that doing something like that hurts the credibility of the network, the corporation, and especially the news division,” he said. “So it’s hard for me to understand why anyone would make that payment unless they were trying to curry favor with one particular person. And if people form theories about me being caught in the fallout of that action, I think that’s a reasonable conclusion, because the corporation clearly did that once already.”

At the same time, Colbert refrained from adding fuel to the speculation. He repeatedly emphasized that he has no intention of publicly attacking his network or accusing them of political interference without concrete evidence. “My side of the street is clean,” he said firmly. “And I have no desire to pick up a broom or contribute to whatever mess might be over on the other side.” He explained that he still has nine months left at CBS, and diving into speculation about motives would not be productive or healthy. “I have my own feelings about not continuing the show,” he said. “But unless someone can show me why opening that door would lead to any beneficial outcome between me and my network, I’m not going to walk through it. I’ve had a great relationship with CBS.”

Colbert also made it clear that even though the end was not of his choosing, he is deeply committed to closing out The Late Show with grace, professionalism, and appreciation for what the team has built over the past decade. He said the conclusion of the show is not something he wants to approach with bitterness or suspicion but with the intention of celebrating what they accomplished and honoring the audience who supported them. “People ask me, ‘What are you going to do next?’” he said. “And the most honest answer I can give is that right now, all I care about is landing this plane gracefully. I want to end the show in a way that feels satisfying, given how much heart and effort we’ve poured into it over the past ten years.”

Throughout the interview, Colbert maintained a thoughtful, measured tone that reflected his desire to confront the reality of the situation without inflaming tensions. Though there is undeniably frustration beneath the surface — particularly when he talks about the settlement with Trump — he consistently avoided making declarative accusations. His position seemed to rest somewhere between confusion and acceptance: confusion about why the settlement happened and why the network canceled a top-rated show, and acceptance that in the entertainment industry, sometimes decisions simply do not make sense to the people doing the work on the ground.

For Colbert, the cancellation also marks the end of an era in late-night television. When he took over The Late Show in 2015, following David Letterman’s retirement, he transformed the program into a politically engaged nightly event that dominated ratings throughout much of the Trump presidency. His sharp monologues, candid interviews, and willingness to confront political figures made him a central figure in the late-night landscape. The show’s consistent ratings dominance made its cancellation even more surprising to both the public and the entertainment world.

He did, however, acknowledge the practical reality of corporate priorities. Paramount and CBS have undergone significant restructuring in recent years, with cost cutting and shifting business strategies playing a major role in programming decisions. Colbert recognized that these factors — rather than anything personal — may be at the heart of why the show was axed. “In this business, things happen for reasons you may never fully know,” he said. “You have to accept it.”

As he prepares for the final stretch of The Late Show, Colbert emphasized gratitude for the decade he spent creating the program and connecting with viewers. He spoke warmly of the staff, the many years of nightly broadcasts, and the joy of doing work that mattered to him. His focus now is on ensuring that the remaining months honor the show’s legacy. “I want to be proud of how we finish,” he said. “That’s what matters most to me right now.”