"CBS pulls the plug on the show on May 21 after announcing its cancellation last year. The network said that it was ending the show's multi-decade run for financial reasons although critics have pointed out that the cancellation came after Colbert criticized parent company Paramount's $16 million settlement with President Donald Trump, which it finalized while seeking federal approval for a merger."
"Before taking things outside, Colbert welcomed Letterman, who came out to raucous applause and cheers from the audience. Admitting that the moment made him a little teary, the former Late Show host launched straight into an attack on the show's cancellation and mocked CBS. Well, you know what happened backstage? I'm standing backstage, a guy comes over, he says he's from CBS, and he fires me. What is going on over there?! Letterman joked."
"The veteran host then struck a sharper note, telling the crowd: I have every right to be pissed off, so I'll be pissed off here a little bit. He continued: Because this theater, you folks wouldn't be in this theater if it weren't for me, and Stephen wouldn't be here if it weren't for me. And we rebuilt this theater, and then Stephen came in, and look at this? It's like the Bellagio. But, listen, as we all understand, you can take a man's show, you can't take a man's voice, so that's the good news from me."
"Letterman then aimed for the uncertain future of late-night TV under shifting corporate ownership, quipping: What I'm really worried about is: What will become of the Jimmys? Are they going to be all right? I don't know, Colbert quipped. We've got a plan to put them in a captive breeding program, Colbert replied"
CBS ended The Late Show with Stephen Colbert on May 21 after canceling it the previous year for financial reasons. Critics linked the timing to Colbert’s criticism of Paramount’s $16 million settlement with President Donald Trump, finalized while seeking federal approval for a merger. Colbert welcomed former host David Letterman, who received loud applause. Colbert and Letterman staged rooftop destruction of CBS property by throwing furniture to smash a giant CBS logo one week before the finale. Letterman joked about being fired backstage by a CBS representative and said he had a right to be angry. He praised his role in rebuilding the theater and noted that a person’s voice cannot be taken. They also joked about the uncertain future of late-night “Jimmys.”
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