Fox News host Greg Gutfeld is the ratings king of late night with 3.1 million average viewers, despite what Stephen Colbert may be telling his audience.

After CBS said it was canceling "The Late Show," people online claimed its host announced a new show in collaboration with MSNBC host Rachel Maddow.

Oliver called "The Late Show" cancellation “incredibly sad" but couldn’t help wondering what chaos Stephen Colbert might unleash on the way out.

CBS could not figure out a path to profitability in an entertainment world increasingly dominated by streaming.

The state of late-night TV is keeping media executives from sleeping well. CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening.

Top lawmakers were quick to rally around Stephen Colbert following the cancellation of "The Late Show." Why it matters: Sens. Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.) accused CBS of placating President Trump as its parent company Paramount is closing in on a merger deal.

President Donald Trump was gleeful over Stephen Colbert's cancellation, saying his "talent was even less than his ratings" on Truth Social.

Colbert’s cancellation came days after he mocked Paramount, which owns CBS, for its $16 million settlement with Trump in a lawsuit many considered meritless. That settlement comes as Paramount attempts a merger with Skydance Media, which requires FCC approval to proceed.