New York, NY — David Letterman has spoken out vehemently against CBS and its parent company, Paramount, following the cancellation of Stephen Colbert’s “Late Show.” The veteran comedian described the network’s decision as “gutless” and accused them of cowardice in a conversation shared last week with former producers Barbara Gaines and Mary Barclay.

During the discussion, which emerged shortly after CBS announced it would cancel the show effective in 2026 due to financial challenges, Letterman defended Colbert, declaring him a “martyr” of the network. “They’ve effectively killed the franchise while sending Stephen packing,” he said in a video that has sparked widespread attention.

Letterman, who hosted CBS’s late-night show for 22 years before retiring in 2015, praised Colbert for elevating political satire to new heights during his tenure. “In a short time, he emerged as a sharp, witty commentator, with a loyal audience eagerly awaiting his take on current events,” Letterman added, recalling Colbert’s significant impact on the network.

CBS announced the cancellation on July 17, citing the show’s financial losses estimated at $40 million to $50 million annually as the primary reason. However, Letterman questioned the timing and validity of those claims, suggesting that the company’s executives were more concerned about the impending sale of Paramount to Skydance Media for $8.4 billion, completed shortly thereafter.

He criticized CBS’s financial management, highlighting that other segments of the network, like CBS News, remain operational despite similar or greater financial issues. “If CBS News is still in operation, I’m uncertain why Colbert would be shown the door,” Letterman remarked.

As CBS-Paramount Holdings adjusts to its new ownership, Letterman expressed concerns over the network’s future decisions. He believes that those responsible for the cancellation will ultimately face embarrassment over this move. “This is a cowardly act, and one day they will have to reckon with it,” he stated.

Colbert, in a recent monologue, echoed Letterman’s sentiments, referring to himself as a “martyr” while addressing the political atmosphere surrounding his show’s cancellation. He directed a pointed message at former President Donald Trump, further intensifying the ongoing narrative around his departure.

Letterman, reflecting on the overall decline of television’s once-great late-night landscape, appeared incredulous about the swift decision to cut a show that had become synonymous with CBS’s brand. “You can’t spell CBS without BS,” he quipped, indicating the growing discontent among audiences and former late-night hosts alike over the network’s recent decisions.

The situation surrounding Colbert’s cancellation continues to draw attention, raising questions about the future direction of late-night television and the response of viewers who have come to expect a bold political edge from their late-night hosts. With the shake-up at CBS, both Letterman and Colbert remain critical voices in this evolving landscape, each looking back at legacy while facing a changing media world.