Media Moguls Were Excited for Trump to Make Them Rich. Are They Still?
We're going to talk merger mania, Paramount and an Oscar surprise, but first… If you don't yet subscribe to this newsletter, please do so here. And if you want to snag early bird tickets to the Screentime conference, you can do that as well.
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The Hill
an hour ago
- The Hill
David Letterman on ‘gutless' cancellation of Colbert's show: ‘Pure cowardice'
Comedian David Letterman on Friday joined the chorus of late-night hosts to bash CBS News after it announced it would sunset 'The Late Show' after more than three decades on air, while praising host Stephen Colbert as a 'martyr.' Letterman — the show's first host — alluded to the recent $16 million settlement between CBS's parent company Paramount Global and the Trump administration, and its expected merger with entertainment giant Skydance, when he called the decision to nix the program 'gutless.' 'I think one day, if not today, the people at CBS who have manipulated and handled this are going to be embarrassed because this is gutless,' he said during a recorded chat with his former 'Late Show' producers Barbara Gaines and Mary Barclay. 'I only wish this could happen to me. This would have been so great for me.' Paramount called the move 'purely a financial decision' and not related to the show's performance or content. Letterman, like other press advocates and some Democrats, did not seem satisfied with that answer. Instead, the 'Late Show' veteran cast the blame on who he called the 'Oracle twins,' referring to billionaire Larry Ellison and his son David Ellison, who is set to lead the 'New Paramount' after the Federal Communications Commission gave the greenlight for Skydance to acquire the company. The merger is expected to be completed by Aug. 7. 'There's no fairness to these goons,' Letterman said, adding 'These guys are bottom feeders. That's exactly what this is.' 'Of course, they know that broadcast television is withering, so now they want, just want to make sure on top of buying something that doesn't have the same value as it had 30 years ago. They don't want to be hassled by the United States government,' he continued. 'So, they want CBS to take care of all of that mess.' The comedian also blasted CBS's decision to settle with Trump after he sued '60 Minutes' over an interview with former Vice President Harris during the 2024 presidential campaign as 'pure cowardice.' Top names in late-night television — such as Jimmy Kimmel, Jimmy Fallon, Jon Stewart and Seth Meyers — have defended Colbert, who has openly raised concerns over Paramount's recent decisions. Letterman was no different. 'Now, for Stephen, I love this. He's a martyr. Good for him, right?' he told his former producers. 'Now we've all got to kiss Stephen Colbert's ring now,' he quipped later. 'And if you listen carefully, you can hear them unfolding chairs at the Hall of Fame for his induction, right?' Colbert, who took the reins from Letterman in 2015, has gone back-and-forth with Trump in recent days. 'I absolutely love that Colbert got fired. His talent was even less than his ratings,' the president wrote in a post on Truth Social earlier this week after the company revealed it would end the show in May 2026. The comedian replied, 'How dare you, sir. Would an untalented man be able to compose the following satirical witticism: 'Go f‑‑‑ yourself.''
Yahoo
3 hours ago
- Yahoo
How Stephen Colbert Has Pushed Back Against CBS With the Help of His Late Night Peers
If you're not watching 'The Late Show With Stephen Colbert' right now, you're missing appointment television. To say the gloves have come off since Colbert's cancellation announcement last week would be a gross understatement. Not that Colbert really ever held back on his opinions, but a host scorned hath more fury. On Thursday, July 24, he even introduced a monologue cut-away segment 'Show Un-Cancelled.' Of course, that announcement turns out to be a fake-out — and the graphic used for it supposedly cost $40 million. That one's light hearted — no more scathing than what 'Arrested Development' threw down in its last season on Fox (anyone old enough to remember that reference?). Throughout the first week of shows as a fallen angel, however, Colbert repeatedly seemed to play chicken with his network, CBS, and its parent company, Paramount, which just got the OK from the Trump Justice Department for a merger with Skydance (set to close August 7.) Not only did he reference the cancellation and the Skydance deal numerous times, he also went even harder on Trump. More from IndieWire 'Pluribus' First Look: Rhea Seehorn Reunites with 'Better Call Saul' Co-Creator Vince Gilligan for New Series About Perils of Happiness How a Scene from 'Get Out' Kickstarted Composer Cameron Moody's Career An then the other late night shows went just as hard (or harder) on CBS and Paramount. On Monday, July 21, most of the other hosts even appeared in a Colbert segment, showcasing support for their competitor. References abounded in their own segments — some humorous, some ominous warnings — including some strong words from Jon Stewart on 'The Daily Show,' which airs on fellow Paramount property Comedy Central. 'Shows that say something, shows that take a stand, shows that are unafraid — this is not a 'We speak truth to power.' We don't. We speak opinions to television cameras. But we try. We fucking try, every night,' Stewart said. 'And if you believe, as corporations or as networks, you can make yourself so innocuous that you can serve a gruel so flavorless that you will never again be on the boy king's radar — A) Why will anyone watch you? And [B)] you are fucking wrong.' Fellow hosts Jimmy Fallon and Jimmy Kimmel, meanwhile, seem to be next on Trump's cancellation wish list — considering he called for their cancellation and all. Fallon has been on vacation, and therefore has not had a monologue with which to respond. He did, however, write a statement that told the network, 'Fuck you and all your Sheldons CBS.' On the July 21 show, Fallon said, 'I am your host, well… at least for tonight. I don't like it. I don't like what's going on one bit.' Fallon did get in a dig at CBS' streaming platform, adding, 'And many people are now threatening to boycott the network. Yep. CBS could lose millions of viewers plus tens of hundreds watching on Paramount+.' 'The Tonight Show' host also sang about Trump's continued Epstein drama and his late night interests in the song below. Comedy Central seems to have gotten the last laugh — so far, at least — on the whole debacle. The AI-segment seen 'round the world this week came courtesy of 'South Park,' who delivered perhaps the most blistering satire of President Donald Trump yet. This came just hours after the series closed a deal with Paramount to continue for another five years, and just a day before the Justice Department approved the merger. The Wednesday, July 23 episode of 'South Park' also spoke quite literally to the Skydance deal in a scene involving none other than Jesus Christ. 'You guys saw what happened to CBS,' Christ mutters through gritted teeth. 'Well guess who owns CBS? Paramount! You really want to end up like Colbert? Then on July 25, former 'Late Show' legend David Letterman, Colbert's predecessor, chimed in on his YouTube channel. 'I don't think it was money… it was pure cowardice,' Letterman said, going on to praise 'precise, crisp, witty political satirist' Colbert. He then addressed CBS/Paramount's decision, saying 'What the fuck is Skydance, honest to Christ? Is it a discount airline? Is that what it is? I think one day, if not today, the people at CBS, who have manipulated and handled this are going to be embarrassed because this is this is gutless. I only wish this could happen to me… Fighting with network television management was number one in the playbook.' But no one went harder on Paramount than Colbert himself. In its statements discussing 'The Late Show' cancellation, Paramount repeatedly made mention of the show's $40 million annual losses. This figure has been questioned, and it was a number referenced repeatedly by Colbert all week. 'I could see us losing $24 million, but where could Paramount have possibly spent the other 16… Oh yeah,' he said on the July 21 episode. In the July 23 episode, he referenced how Trump claimed that CBS/Paramount would be providing another $20 million a year in administration-approved airtime. 'By bending the knee, they lost like $40 million this year,' Colbert said. 'They better watch out. They might get canceled for purely financial reasons.' This was just the tip of the iceberg for Colbert. It almost seems as if the stalwart late night presence is daring CBS to cancel him before May 2026, an idea also postured this week by Time. Certainly his tone was not one that sounds… uh, let's say copasetic, with his employers. But you be the judge. What's Colbert's game? Here's a few of his daring comments from the week's shows, mined from his full monologues: 'Over the weekend it sunk in that they're killing off our show. But they made one mistake: They left me alive!' 'All the king's horses and all the king's men couldn't hide who Dumpty humped with his friend.' 'It's not a great look when you fly on the pedophile's plane enough times to earn diamond pervert status.' 'What are you gonna tell me next — that the Pope is in the Catholic files? That a bear is on the cover of this month's Modern Woods Pooper?' And of course, he did also say succinctly, 'The President was buddies with a pedophile.' The gloves certainly are off. Best of IndieWire Guillermo del Toro's Favorite Movies: 56 Films the Director Wants You to See 'Song of the South': 14 Things to Know About Disney's Most Controversial Movie Nicolas Winding Refn's Favorite Films: 37 Movies the Director Wants You to See
The Hill
4 hours ago
- The Hill
Paramount, Skydance expected to close deal on Aug. 7
Paramount and Skydance announced Friday that, with the Trump administration's approval, the highly anticipated merger between the entertainment giants is expected to take place next month. The Aug. 7 date, unveiled in a press release, comes after the Federal Communications Commission (FCC) on Thursday allowed Skydance's acquisition of Paramount to move forward after the merger was first proposed last year. FCC Chair Brendan Carr in announcing the decision said he welcomed Skydance's commitment to remaining 'unbiased' in its journalism and willingness to promote 'a diversity of viewpoints across the political and ideological spectrum.' 'Americans no longer trust the legacy national news media to report fully, accurately, and fairly,' Carr added. 'It is time for a change.' The move caps off months of turmoil between Paramount Global, the parent company of CBS, and President Trump. Trump sued CBS's '60 Minutes' last year after he argued an interview it aired with former Vice President Harris was altered in her favor during the 2024 presidential election cycle. While the company fought the claims, including releasing a full transcript from the episode, it ultimately settled with the administration for $16 million. Those funds are set to go to Trump's eventual presidential library. The news outlet has also faced criticism in recent days after CBS made the decision to sunset 'The Late Show with Stephen Colbert' next May, after more than 30 years on air. Paramount said the move was based on finances, but critics have argued the settlement and Skydance deal were likely involved — and bribery allegations have been floated. Comedian Stephen Colbert, who has hosted the show since 2015, has been openly critical of the merger. Colbert blasted the network earlier this week for choosing to axe the show and thanked those who have reached out in support, including Democrats, press freedom advocates and many of his late-night counterparts. He added that 'one key mistake' the network made when moving forward with the plan is that 'they left me alive.' Colbert also lashed out at Trump after the president said in a post online that he 'absolutely' loved that the comedian was getting 'fired.' 'How dare you, sir,' the host responded. 'Would an untalented man be able to compose the following satirical witticism: 'Go f‑‑‑ yourself.'' Under the terms of the $8 billion merger, the company will become 'New Paramount' and will be led by Trump-ally and billionaire David Ellison, the son of tech tycoon and Oracle founder Larry Ellison.
