David Letterman Roasts CBS Over Colbert Cancellation

Former “Late Show” host David Letterman joined his former executive producer Barbara Gaines to give his full unfiltered thoughts on CBS’ cancellation of Stephen Colbert’s iteration of the “Late Show.”

“One day, if not today, the people at CBS who have manipulated and handled this are going to be embarrassed,” he said in a YouTube video published Friday. “This is gutless.”

Last week CBS canceled “The Late Show with Stephen Colbert,” claiming it was a purely financial decision. But the news came days after the host called Paramount’s $16 million settlement with President Donald Trump a “big fat bribe” to ensure the FCC approved the media giant’s upcoming merger with Skydance, prompting speculation the decision was politically motivated. Letterman happened to agree.

“If they were losing that kind of money — you’re telling me losing this kind of money happened yesterday?” the former late night host said. “I bet they were losing this money a month ago or six weeks ago. Or they have never been losing money. They did not do the correct thing. They did not handle Stephen Colbert, the face of that network, in the way he deserves.”

Watch the full video here:

Gaines noted that Colbert’s ratings are the top of his time slot, pacing out his competitors in viewership but not necessarily ad dollars. Co-host Mary Barclay asked why they would not ask the show to reign in the budget before canceling it completely. Letterman asserted that its less about the money and more about Colbert’s political candor being a liability for the network’s relationship with President Trump.

”The idea that they’re hiding behind money — they’ve given [Colbert] another 10 months, that’s another huge chunk of money they’re gonna lose, according to them,” Letterman said. “I don’t think it was money. I think it was all to make sure [Skydance head David Ellison, set to become CEO of Paramount] were solid spending dad’s money.”

“They don’t want any trouble along the lines of freedom of the press or free speech,” he added. “They don’t want to get their hands dirty. They don’t want the government going after them.”

The late night host joked that he “loved this for Colbert” and said he could hear them unfolding chairs for his TV Hall of Fame induction. As for the network, he expressed deep disappointment and upset in “the Oracle boys,” his pet name for Larry and the heir to his fortune David Ellison.

“This is pure cowardice,” he said. “Go buy Dairy Queen or something. Stay out of this business.”