"It isn’t the end of Colbert," Galloway wrote. "It’s the end of late-night TV. Colbert’s Late Show reportedly has been losing more than $40 million a year for CBS, with a budget of $100 million per season and about 200 employees." Galloway compared those economics to those of his own company.

It's the moment "Late Show" fans spent the summer waiting for: Stephen Colbert debuts as host Tuesday night after moving to CBS, reports CBS News correspondent Vladimir Duthiers.

CBS announced on July 17 that "The Late Show with Stephen Colbert" is being cancelled and "The Late Show" will come to an end after a 33-year run in May 2026. While the cancellation may be surprising for those focused on Colbert's ratings success in the linear TV space,