Paramount released a statement that called the move "purely a financial decision against a challenging backdrop in late night."

Loss of Stephen Colbert’s show is another sign of how we are losing our shared ties.

In 2024, Paramount’s broadcast and cable television business had an operating income of about $4.3 billion, down roughly 9 percent from the $4.8 billion it made the year before.

With this week’s FCC approval, the merger between Paramount Global and Skydance Media is expected to be completed in the coming weeks at a value of $8 billion.

The $8.4 billion merger between Paramount Global (PARA.O) and Skydance Media won approval from U.S. regulators on Thursday, clearing the way for a sale that evolved into a clash over press freedom in...

"Now that the long, drawn-out sale process is finally nearing its end, Skydance leadership is poised to take control," wrote MoffettNathanson media analyst Robert Fishman.