Stephen Colbert’s Support ‘Waning’ as He Mocks CBS and Paramount Over ‘Late Show’ Cancellation (Exclusive)

Stephen Colbert was unafraid to call out CBS and Paramount after The Late Show was abruptly axed, but according to an insider, his pals are concerned he’s going too far with his continued criticism of the networks.

“When his show was first canceled, people were on his side. His fellow late-night talk show hosts were backing him, and colleagues were cheering him on for sticking up for himself, but he’s doubling down too aggressively, and now support is waning,” the insider exclusively tells the National Enquirer.

“The feeling is he’s going off a ledge and it’s not a smart move,” adds the insider.

As Colbert, 61, nears the end of his contract and the need to begin job hunting, others are seeing a “bitter” side to him that could potentially hurt his future prospects in the business, according to the insider. Even worse, the talk show host is taking “serious risks” with some of his comments and could potentially “end up in legal trouble,” if he doesn’t “calm down and stop dragging people’s names.”

As the Enquirer previously reported, Colbert confirmed The Late Show would permanently end in May 2026. Following the shocking announcement, fellow late-night hosts flooded social media with support for Colbert.

“Love you Stephen. F**k you and all your Sheldons CBS,” Jimmy Kimmel wrote via his Instagram Story.

Seth Meyers penned, “For as great a comedian and host he is, Stephen Colbert is an even better person.”

Meanwhile, Watch What Happens Live host Andy Cohen said he was left “pissed off” by the decision as journalist and television personality Katie Couric admitted that she was “so upset” and wanted “more information” on what had happened.

CBS and Paramount executives insisted The Late Show’s cancellation was “purely a financial decision against a challenging backdrop” and was “not related in any way to the show’s performance, content or other matters happening at Paramount” in a statement released in July.

However, on Monday, July 28, Colbert repeatedly poked fun at the Paramount and Skydance merger by making a number of urine jokes on air.

“I’m thrilled for everyone at Paramount that the deal went through and very excited for our newly announced official combined Paramount-Skydance stock ticker name, which will go from ‘PARA’ to ‘PSKY,’” he joked. “Soon, PSKY will blast hot streaming content right in your face. With hits like Yellowstone, Yellowjackets and a full variety of water sports. I predict PSKY will become synonymous with number one. PSKY, a pitcher of warm entertainment.”