Even CNN’s Brian Stelter, no fan of Trump, said as much, writing: “The bottom has indeed been falling out of the late-night TV business model for several years now. Audience fragmentation and digital competition have led to a decline in ad revenue across the board. One insider described it as ‘cratering’ at CBS.”

On Thursday, CBS announced that it was cancelling the long running The Late Show with Stephen Colbert. The cancellation news came just days after Stephen Colbert, a critic of Donald Trump, called out Paramount, the parent company of CBS, over its $16 million settlement with the president.