An online rumor claiming Stephen Colbert signed a multi-million dollar deal with Netflix following the announced cancellation of The Late Show is false.
The claim, which circulated widely on social media, suggested a $13.5 million, seven-episode contract for the host. However, multiple outlets have identified the story as a hoax, noting it originated from a viral post on X that included a community context note stating the deal was unconfirmed. While Colbert previously joked on-air about his impending availability, saying “Netflix, call me,” no official agreement has been announced.
Speculation about Colbert’s future follows the July announcement that The Late Show with Stephen Colbert will conclude its run in May 2026. In a press release, CBS described the move as “purely a financial decision against a challenging backdrop in late night,” linked to parent company Paramount’s proposed $8 billion merger with Skydance Media. The network stated the cancellation was not related to the show’s performance or content.
Despite the official explanation, the timing of the decision has drawn scrutiny and accusations of political motivation. Days before the announcement, Colbert had publicly criticized Paramount for its $16 million settlement with Donald Trump stemming from a 60 Minutes interview. This has led prominent figures to question the network’s reasoning.
Democratic Senators Adam Schiff and Elizabeth Warren both publicly questioned whether the show was ended for political reasons. Jon Stewart, whose show is also owned by Paramount, questioned why the network did not try to save its top-rated late-night franchise. In contrast, Donald Trump celebrated the news on his Truth Social platform.
Analyzing the business decision, host Andy Cohen suggested that if the move were purely financial, a network would typically pursue budget cuts, such as reducing staff or broadcast days, rather than canceling a flagship program entirely.
The Late Show with Stephen Colbert will air its final episode in May 2026. The Paramount and Skydance merger is expected to close on or before October.
