Paramount Global (NASDAQ:PARA) canceled “The Late Show with Stephen Colbert,” but days later, the company signed a $1.5 billion streaming deal with “South Park” creators Matt Stone and Trey Parker.
CBS, owned by Paramount, announced Colbert's show will end next May, citing costs, not content. That explanation has sparked backlash from viewers and lawmakers who question the timing and motives, especially since Colbert on July 15 criticized Paramount’s $16 million legal settlement with President Donald Trump over a disputed “60 Minutes” interview during the 2024 presidential campaign.
