Equal Time vs. Equal Rights: A Look Inside the Crackdown of Late Night TV's Free Speech
Even in a world of late-night Jimmy’s who grace our screens in late-night television slots, the Late Night Show with Stephen Colbert has consistently been the highest-ranking late-night television show throughout the past year. An average of 2.42 million Americans tuned into Colbert's show in quarter two of this last fiscal year. [1] However, despite the show’s popularity, CBS had decided to cancel the show indefinitely in May 2026. [2] While the cancellation has been explained as a business decision, the circumstances surrounding it raise larger questions about the relationship between media corporations, government regulators, and political influence.
The move to cancel The Late Night Show comes from CBS’s parent company, Paramount. Paramount Global, formerly known as Viacom CBS, is the bigger media conglomerate who owns streaming service Paramount+, as well as Paramount Pictures, CBS, Nickelodeon, BET, MTV, Comedy Central and other media brands. [3] Despite the array of media services at its disposal , Paramount has been facing a downward decline in business. In the current age of digital streaming services and media bundles, it is hard for traditional media to make an impact, let alone keep up. Paramount’s streaming services Paramount+ “achieved [to gain] 77.5 million subscribers but lost $497 million in 2024.” [4] and that Paramount, as a whole, “had lost $40 to $50 million in 2024.” [5]
It is clear that “Paramount+ faces intensifying competition from Netflix, Disney+, and emerging players while content costs continue rising. [6]
Drawing from losses, Paramount announced a merger with Skydance, an independent production company owned by Larry and David Ellison. The Ellison family is the founders of the database software Oracle, as well as a primary shareholder of TikTok and a recent right-hand man to Donald Trump. The Paramount/Skydance merger, which was valued at around eight billion dollars, would “preserve Paramount’s public listing—critical for maintaining debt capital market access—while delivering Ellison family control at a fraction of what an outright acquisition would cost.” [7] It would allow for the “scale, cost discipline, and differentiated content to reach profitability—precisely what the Skydance combination promises to deliver. [8] However, the bid had to be cleared by the US Federal Government, specifically the Federal Communications Commission (FCC) which initially didn’t pose an issue as the merger was approved in July of 2025, with the vote coming to 2 to 1. However, upon further inspection it seemed that in order for the deal to be pushed through, Skydance had to agree to certain stipulations. This agreement included promises to end any Diversity, Equity, and Inclusion initiatives and to uphold a “commitment to unbiased journalism.” [9]
Brendan Carr, the current head of the FCC, appointed by President Donald Trump in 2016 spoke of the deal, saying that, “Americans no longer trust the legacy national news media to report fully, accurately, and fairly…it is time for a change.” [10]
The timing of these events raises questions about whether political considerations influenced corporate decision-making, especially as Paramount was seeking regulatory approval for its merger. In the weeks prior to the merger, Paramount Global and the Trump Corporation had agreed to settle their sixteen-million-dollar lawsuit. In October of 2024, Trump filed a lawsuit against the network, arguing that the network had “deceptively edited an interview that aired on its 60 Minutes news programme with his presidential election rival Kamala Harris, to "tip the scales in favour of the Democratic party.” [11] According to the lawsuit, which was filed in a federal court in Texas, Trump’s legal team alleges that CBS had two different versions of her response on different stations, including 60 minutes of then-Democratic Presidential nominee Kamala Harris’s answer to a question about the Israel-Palestine conflict. Trump had argued that the versions were edited to make Harris look better, but CBS stated that they were adhering to television news standards. [12] Paramount had eventually agreed to settle and pay Trump about 16 million dollars, confirming that “the settlement fee included the president's legal fees, and that it had agreed that 60 Minutes would release transcripts of interviews with future presidential candidates.” [13] This payment comes after the FCC chair, Mr. Carr had spoken to news outlets saying that “the complaint is “likely to arise” as the FCC reviews Skydance’s proposed acquisition of Paramount Global, the parent company of CBS. [14] Colbert condemned Paramount’s decision on his show, calling it “a big fat bribe” just days before the show’s cancellation. [15] Colbert has long been a critic of political institutions, as prior to his tenure on the Late Night Show, he had been on The Colbert Report on Comedy Central, which heavily critiqued US conservative politics and culture. [16] This followed onto the Late Night Show as Colbert has had a multitude of Democratic politicians on the Late Night Show throughout the year, thus it has been questioned whether the true motivations of the cancellation weren’t a “struggle to attract younger viewers, amid competition from online streamers and podcasts, along with increased costs of live television,” but a move to appease the President and avoid further FCC persecution. [17]
The FCC in early February had released a public notice “reminding broadcasters of their responsibilities under the equal time rule, Section 315 of the Communications Act.” [18] The notice pushed that “talk shows would no longer automatically count as “bona fide news” programs, which are exempt from the equal time rule.” [19] The equal time rule “requires broadcasters to treat a candidate for the same political office identically to every other candidate for that office. If a radio or television station sells airtime to one candidate, the rule states that it must offer to sell the same amount of time to other candidates for that office.” [20]
The rule did allow for exceptions, as Congress amended the Communications Act of 1934 to include four statutory exemptions to the equal opportunity provision. Under the amendment, broadcasters are not subject to equal access obligations when a legally qualified candidate is included in a bona fide newscast, news interview, documentary, or on-the-spot coverage of a news event. This amendment sought to relieve broadcasters of the impossibility of providing free air time to every minor candidate. [21] For the bona fide news interview exception, a key precedent has been the Media Bureau’s 2006 decision denying a complaint by Phil Angelides, the Democrat candidate for Governor of California, seeking equal time on “The Tonight Show with Jay Leno” following an appearance by Republican candidate Arnold Schwarzenegger. The Bureau concluded that “the news interview segments of ‘The Tonight Show with Jay Leno’ qualify for the bona fide news interview exemption ... and that news interviews conducted on that program are exempt from equal opportunities.” This followed a prior full Commission decision finding that portions of the daytime talk show “Donahue” qualified as bona fide news interviews, and staff decisions making similar findings for the “Sally Jessy Raphael Show,” “Jerry Springer,” “Politically Incorrect,” and Howard Stern’s radio program. [22] This precedent has allowed for the autonomy of talk-show hosts in terms of their program; they can control what they talk about, who they talk about, and don’t have to filter their opinions. It allows for a range of views to be presented to the audience.
However, the public notice and recent actions of the FCC shows that this will no longer be the case. Democrat FCC Commissioner Anna Gomez put out a statement protesting the decision, “For decades, the Commission has recognized that bona fide news interviews, late-night programs, and daytime news shows are entitled to editorial discretion based on newsworthiness, not political favoritism. That principle has not been repealed, revised, or voted on by the Commission.” [23] Other democratic officials, such as Representative Doris Matsui, have spoken out against the FCC’s recent actions, saying that “FCC Chairman Brendan Carr is pulling every dirty trick in the book to weaponize his agency against dissenting voices and attack our First Amendment rights.” [24]
Taken together, these developments suggest that the cancellation of Colbert’s show may not simply be about ratings or cost, but part of a larger shift in how media companies respond to political pressure. In a period in which the Trump administration has shown an unprecedented amount of power and influence over all aspects of our federal government, it is important to take notice of changes that affect our ability to exercise free speech. A democratic society relies upon the criticism of the public, the knowledge of the public. Late-night television is often categorized as entertainment with celebrity appearances, viral moments, and one-liners. It is also a place of societal critique and analysis, with the recent moves of the FCC and companies such as Paramount to appease the President’s wants, it is more important than ever to protect the right to speak freely. Stephen Colbert said that CBS had “made one mistake,” which was that “now for the next ten months the gloves are off. I can finally speak the unvarnished truth to power and say what I really think about Donald Trump starting right now: I don’t care for him.” [25]
Sources
Buchholz, Katharina. “Infographic: Colbert and Kimmel Pull Biggest Late-Night Audience.” Statista Daily Data. Statista, September 19, 2025. https://www.statista.com/chart/35165/us-late-night-show-ratings.
Matza, Max. “Stephen Colbert Says the Late Show Will End after 33 Years.” BBC News, 18 July 2025, www.bbc.co.uk/news/articles/c20n4q0q9zqo. Accessed 16 Mar. 2026.
Hayes, Christal. “US FCC Clears $8bn Skydance-Paramount Merger.” BBC News, 25 July 2025, www.bbc.co.uk/news/articles/c5ypylq0vnko. Accessed 16 Mar. 2026.
“Skydance, Paramount and the Politics of Media Power.” Institute for Mergers, Acquisitions, and Alliances, 4 Aug. 2025, imaa-institute.org/blog/skydance-paramount-and-the-politics-of-media-power/.
“Stephen Colbert’s Late Night Show Canceled, Sparking Accusations of Political Censorship; Jimmy Kimmel Incident Adds Fuel to the Fire.” The Free Speech Project, 2019, freespeechproject.georgetown.edu/tracker-entries/stephen-colberts-late-night-show-canceled-sparking-accusations-of-political-censorship-jimmy-kimmel-incident-adds-fuel-to-the-fire/.
“Skydance, Paramount and the Politics of Media Power.”
Ibid.
Ibid.
Hayes, “US FCC Clears $8bn.”
Shepardson, David. “FCC Chair Pleased with Skydance Vow to Make Changes at CBS.” Reuters, July 24, 2025. https://www.reuters.com/sustainability/society-equity/fcc-chair-pleased-with-skydance-vow-make-changes-cbs-2025-07-24/.
Glynn, Paul. “Paramount to Pay Trump $16m over 60 Minutes Kamala Harris Interview.” BBC News, July 2, 2025. https://www.bbc.co.uk/news/articles/c3w4n8778q2o.
Mullin, Benjamin, et al. “Paramount to Pay Trump $16 Million to Settle “60 Minutes” Lawsuit.” The New York Times, 2 July 2025, www.nytimes.com/2025/07/02/business/media/paramount-trump-60-minutes-lawsuit.html.
Ibid.
Weprin, Alex. “FCC to Review Complaint on CBS 60 Minutes Interview with Kamala Harris.” The Hollywood Reporter, 19 Nov. 2024, www.hollywoodreporter.com/business/business-news/fcc-cbs-60-minutes-paramount-skydance-1236065865/. Accessed 16 Mar. 2026.
“Stephen Colbert’s Late Night Show Canceled.”
Matza, Max. “Stephen Colbert Says the Late Show Will End after 33 Years.” BBC News, 18 July 2025, www.bbc.co.uk/news/articles/c20n4q0q9zqo.2026.
Ibid.
Daniel R. Suhr. “The FCC’s Public Notice on “Bona Fide News,” Yale Journal on Regulation, 10 Feb. 2026, www.yalejreg.com/nc/the-fccs-public-notice-on-bona-fide-news-by-daniel-r-suhr/.
Folk, Zachary. “Late Night, Talk Shows Must Offer Opposing Political Candidates Equal Time, FCC Says.” Forbes, 21 Jan. 2026, www.forbes.com/sites/zacharyfolk/2026/01/21/late-night-talk-shows-must-offer-opposing-political-candidates-equal-time-fcc-says/.
“Equal Time Rule.” The Free Speech Center, 18 Feb. 2026, firstamendment.mtsu.edu/article/equal-time-rule/.
Ibid.
“FCC Equal Opportunities Rule May Apply to Talk Shows, Media Bureau Says in Guidance to Broadcasters.” Wileyrein, 2026, www.wiley.law/alert-FCC-Equal-Opportunities-Rule-May-Apply-to-Talk-Shows-Media-Bureau-Says-in-Guidance-to-Broadcasters.
“The FCC’s Public Notice on “Bona Fide News.”
Ibid.
“Stephen Colbert’s Late Night Show Canceled”