A new report revealed Stephen Colbert's manager knew about "The Late Show" cancellation weeks before the host, with sources claiming the decision was financially motivated.

CBS canceled Stephen Colbert’s late-night show. Democrat Minnesota Gov. and failed vice-presidential candidate Tim Walz, who recently appeared on the

Monday night's (July 21) show also featured kiss cam-style pop-ins from supportive fellow talkers Anderson Cooper, Jimmy Fallon, Jon Stewart and Adam Sandler.

CBS announced Thursday “The Late Show” will end in May at the end of its broadcast season. Though CBS and parent company Paramount said the choice to cancel the series was “purely a financial decision,” and the show was reportedly losing the network $40 million a year, many liberal commentators claim it was for political reasons.

The union says of the Colbert cancellation, "Now, more urgently than ever, is a time for courage, not cowardice."

The shocking cancellation of Late Show With Stephen Colbert raises questions about the Paramount merger and Trump's influence.

Stephen Colbert announced "The Late Show" was cancelled three nights after revealing his summer mustache on air. Coincidence?