Colbert to Trump: “For the Next Ten Months, the Gloves Are Off”

Stephen Colbert says CBS made one mistake in its decision to cancel the Late Show: “they left me alive. And now, for the next ten months, the gloves are off.”

The Late Show host did not hold back during Monday’s opening monologue, taking aim at both CBS and Donald Trump. He also addressed speculation that the show’s cancelation may be tied to corporate capitulation, as CBS’s parent company, Paramount, nears the final stages of its merger with Skydance, which still needs approval from the Trump Administration.

“CBS, our network… put out a statement… they clarified that the cancelation was purely a financial decision. But how could it be a purely financial decision if the Late Show is No. 1 in ratings? Yeah, it’s confusing. A lot of folks are asking that question, mainly my staff’s parents and spouses.”

“Over the weekend, someone at CBS followed up their gracious press release, followed up with a gracious anonymous leak saying, “They pulled the plug on our show because of losses pegged between $40 million and $50 million a year.” $40 million is a big number. I could see us losing $24 million, but where would Paramount have possibly spent the other $16 million?” Colbert added, referencing Paramount’s recent decision to settle a seemingly meritless lawsuit with the Trump Administration over the editing of a segment on 60 Minutes.

Colbert also responded to Trump’s Truth Social post about the show’s cancelation, in which the president wrote, “I absolutely love that Colbert got fired. His talent was even less than his ratings.” Colbert replied, “How dare you, sir? Would an untalented man be able to compose the following satirical witticism? Go fuck yourself.”

As for Trump’s asserting that fellow late-night host Jimmy Kimmel is “next,” to be fired, Colbert responded, “Nope. No, no. Absolutely not, Kimmel. I am the martyr. There’s only room for one on this cross. And I gotta tell you, the view is fantastic from up here.”

Proving that the gloves are indeed off, Colbert proceeded to use the rest of his monologue to discuss Trump’s associations with Jeffrey Epstein. The episode also featured a segment in which Colbert imagined the Washington Commanders renaming themselves the Washington Epsteins in a bid to appease the president — a response to recent headlines that Trump has threatened to block the team’s new stadium unless they revert to their former name, the Washington Redskins.

Several of Colbert’s late-night peers, including on Jon Stewart, John Oliver, Jimmy Fallon, Seth Meyers, and Andy Cohen, also turned out to show their support for Colbert by appearing in a Coldplay kiss cam parody mocking CBS’s parent company, Paramount, and Trump.

As of now, CBS says Late Show with Stephen Colbert will remain on the air through May 2026.