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12:13Now PlayingCBS has announced the cancellation of The Late Show with Stephen Colbert, effective next May. This decision will bring an end to a long-standing television institution and remove one of President Trump's most vocal late-night critics from the airwaves. CBS has said financial reasons are to blame for the cancellation, not content-related issues. LiveNOW's Austin Westfall and Scott Ryan, author of “The Last Days of Letterman”, discuss how the cancellation will impact the world of late night.
The timing of the announcement, just three days after Colbert criticized a settlement between Trump and Paramount (CBS's parent company) regarding a 60 Minutes story, has now prompted two U.S. Senators to publicly question the decision.
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