Jon Stewart rallied behind Stephen Colbert during Monday night's monologue on The Daily Show. The late-night TV icon lamented the loss of The Late Show while calling out Paramount once more.
Monday gave late-night TV its first chance to react to news that Paramount will end The Late Show in May 2026. No one appears willing to take the company's claims that it was a financial decision at face value. Instead, critics point to the fact that Paramount made the announcement just days after Colbert criticized its decision to settle a $16 million lawsuit with President Donald Trump.
Stewart expressed similar views earlier this month on his Comedy Central show, also owned by Paramount. So the Daily Show host made it clear he couldn't cover the Colbert controversy from an unbiased perspective.
Instead, Stewart came to the defense of his friend and former colleague. He praised Colbert for his contributions to late-night TV through his tenures at The Daily Show, The Colbert Report, and The Late Show. Stewart went on to call it a "great pleasure" to watch Colbert become the top-rated host in late-night.
The comedian continued, acknowledging that late-night TV is a "struggling financial model." However, Stewart wasn't ready to let Paramount and CBS off the hook despite The Late Show losing a reported $40 million annually.
Stewart suggested cancelling Colbert and the entire Late Show was taking the "path of least resistance" rather than a difficult financial decision. H continued, questioning whether the decision was instead made to appease "a fragile and vengeful president."
At this point in the monologue, Stewart's anger started to come through. Speaking directly to his corporate bosses, the Daily Show host reminded Paramount of why Skydance is willing to pay $8 billion for a merger.
"Understand this: the shows that you now seek to cancel, censor, and control? A not insignificant portion of that $8 billion value came from those f***ing shows," Stewart said. "That's what made you that money."
A visibly upset Stewart went on to issue a warning to CBS and other networks that may want to follow its lead. The late-night star claimed no one will watch CBS if it continues to remove shows like The Late Show that "actually say something." And if CBS thinks it will be clear of Donald Trump's wrath, Stewart didn't mince words, declaring "you're wrong."
Stewart saved his best for last as he tried to explain why Paramount cancelled Stephen Colbert. Don't expect there to be a smoking gun email between Trump and the network or a financial report with irrefutable evidence. Instead, Stewart says it comes down to something more dire.
"I think the answer is in the fear and precompliance that is gripping all of America's institutions at this very moment. Institutions that have chosen not to fight the vengeful and vindictive actions of [President Trump]."
The monologue ended with Stewart breaking out into song to encourage America not to give in. And in Stewart's words, he's not giving in and he's not going anywhere.