CBS' shock announcement sparked speculation over whether there was a political motive for the program's cancellation.

CBS has canceled The Late Show with Stephen Colbert just a few days after Colbert criticised the network’s parent company, Paramount, for its high-profile settlement with President Trump.

O'Donnell, a recent target of the president's threats, sounded the alarm on the network's stunning "Late Show" decision.

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