The cancellation comes shortly after Paramount, on July 1, agreed to pay President Donald Trump a $16 million settlement over a lawsuit the president filed against it. The lawsuit accused CBS's "60 Minutes" of "deceptive editing" of his interview with presidential rival Kamala Harris.

Fox News host Jesse Watters and Outkick founder Clay Travis commented about CBS and Paramount abruptly canceling "The Late Show with Stephen Colbert."

The decision to cancel The Late Show comes just two days after Colbert criticized the company’s decision to settle a frivilous news distortion lawsuit brought by President Donald Trump last year. The lawsuit centered around a “60 Minutes” interview with his then-political rival, former Vice President Kamala Harris.