NEW YORK – A seismic tremor is shaking the world of late-night television, but it’s not coming from a monologue or a celebrity interview. Instead, it’s a powerful and pointed message from a retired icon. David Letterman, the man who built The Late Show into a cultural institution, has broken his silence on the abrupt cancellation of Stephen Colbert’s show in a move that has sent shockwaves through the industry. In a characteristically wry and stinging act, Letterman posted a video montage of himself roasting his former network, CBS, and attached a caption that has since become a rallying cry for critics: “You can’t spell CBS without BS.”

This isn’t just a nostalgic look back at classic Letterman bits; it’s a direct, unfiltered, and deeply personal critique of a network he believes has lost its way. The video, released on his YouTube channel, is a masterclass in passive-aggressive fury, showcasing years of Letterman’s best jabs at the network’s corporate overlords. The timing, just days after the announcement that The Late Show would be ending its 33-year run, was no coincidence.

In his first public comments on the matter, Letterman was anything but subtle. In a YouTube interview with his former producers, he slammed the decision to cancel Colbert’s show and the entire franchise as “pure cowardice.” He accused CBS and its parent company, Paramount Global, of prioritizing corporate interests and political appeasement over journalistic integrity and creative freedom. “They did not do the correct thing; they did not handle Stephen Colbert, the face of that network, in the way he deserves to have been handled,” Letterman said with palpable disappointment.

Letterman’s central argument dismantles CBS’s official explanation that the cancellation was a “purely financial decision.” While reports from outlets like Puck News suggest Colbert’s show was losing upwards of $40 million a year, Letterman dismissed this reasoning as a convenient “cover story.” He pointed out that networks have long known that traditional television is a business in decline, and that such losses don’t happen overnight. He then connected the dots to a larger, more sinister corporate narrative: the impending multi-billion dollar merger between Paramount and Skydance Media, a deal that requires approval from the government.

The timing of the cancellation is, indeed, suspicious. It came just days after Colbert used his platform to openly criticize Paramount for its $16 million settlement with President Donald Trump over what Colbert called a “bogus lawsuit.” Trump had sued the network over an interview with then-presidential candidate Kamala Harris, a lawsuit that many saw as an act of political intimidation. Letterman, in his interview, argued that Colbert’s fearless and consistent political satire made him a liability in a business deal that depended on the approval of a “thin-skinned” administration. He accused the new owners, the “Oracle boys” who run Skydance, of not wanting to be “hassled by the United States government” and wanting to avoid any controversy related to “freedom of the press or free speech.”

The late-night world has rallied around Colbert since the shocking news. Hosts from rival networks, including Jimmy Fallon and Seth Meyers, appeared on his show in a display of solidarity, while Jon Stewart of The Daily Show dedicated a significant portion of his broadcast to defending his friend and fellow comedian. Stewart echoed many of the same sentiments, questioning the timing and the network’s official reasoning. This outpouring of support from his peers is a testament to Colbert’s impact and the industry’s shared belief that something more than a financial decision was at play.

Letterman’s most poignant comments, however, were about Colbert’s legacy. He declared that Colbert, who inherited the show from him, is now a “martyr” for the cause of free speech and independent journalism. “If you listen carefully, you can hear them unfolding chairs at the [TV] Hall of Fame for his induction,” Letterman quipped. This sentiment frames Colbert not as a failure, but as a hero who was sacrificed for speaking truth to power.

The story of David Letterman and Stephen Colbert is now intertwined in a new, unexpected way. Letterman’s departure in 2015 marked a peaceful, generational transition. This one, however, is a bitter and contentious ending that speaks to the deep changes and challenges facing the media industry. It is a cautionary tale about the increasing consolidation of media, the pressure on creative talent to conform, and the chilling effect of political influence on independent journalism. As the sun sets on The Late Show franchise, the legacy of this moment may not be a loss for a single show, but a painful reminder of the price of freedom in a world where corporate interests and political agendas often trump all else.