In a shocking move, CBS is ending “The Late Show with Stephen Colbert” next year, and apparently exiting the late-night television business altogether. The network, citing financial pressures,

The announcement came days after Colbert spoke out against the $16 million settlement paid by CBS News parent Paramount to settle a lawsuit filed by Donald Trump.

Colbert confirmed the cancellation during a show taping on Thursday. CBS said the move was "purely a financial decision against a challenging backdrop in late night."

CBS said it is canceling “The Late Show with Stephen Colbert” at the end of the upcoming television season in May, a casualty of industry changes that have dealt a crippling blow to advertising revenue.

The problem began at the tail end of the station's prime time programming at 9:13 p.m., but it didn't interfere with the 10 p.m. newscast because that's locally generated, Chastain said.

Colbert followed “The Daily Show” host Jon Stewart’s attack of the deal one week earlier. Stewart works for Comedy Central, also owned by Paramount, making the two comics the most visible internal critics of the $16 million settlement that was announced on July 1.

Stephen Colbert went off on his employer, Paramount, on Monday after the company decided to settle with President Trump in his lawsuit against the network.

Two Emmy categories were unexpectedly revealed early on Tuesday morning and The Traitors, Drag Race and the Late Show are nominees once again