CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.

Stephen Colbert slammed Paramount's $16 million settlement with Donald Trump just three days before 'The Late Show' was canceled. The network attributed its decision to financial restraints, unrelated