John Oliver has spoken out following the surprise cancellation of The Late Show with Stephen Colbert. Calling the decision “incredibly sad” and “terrible,” he expressed deep admiration for Colbert and his team.

In a statement on Thursday, the network said the late-night talk show was being canceled for financial reasons. Those reasons are associated with Paramount's proposed merger with Skydance Media, which requires Federal Communications Commission (FCC) approval under the Trump administration. Paramount is the parent company of CBS.

CBS announced on Thursday that 'The Late Show With Stephen Colbert' would end in 2026, but the timing, coincidental or not, comes as Paramount tries to sell itself to Skydance.