Shortly after CBS announced that 'The Late Show' had been canceled for financial reasons, prominent figures began openly speculating about the network's timing

President Donald Trump attacked Stephen Colbert on Truth Social Friday morning after CBS and Paramount announced the cancellation of the late-night host’s longstanding show, a move the networks say was a financial decision but that Democrats have blasted as political.

In a statement on Thursday, the network said the late-night talk show was being canceled for financial reasons. Those reasons are associated with Paramount's proposed merger with Skydance Media, which requires Federal Communications Commission (FCC) approval under the Trump administration. Paramount is the parent company of CBS.