Dave Portnoy Blames Capitalism for Stephen Colbert’s Late Show Cancellation
By Elena West
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Dave Portnoy has ignited a firestorm of debate by declaring that the end of Stephen Colbert’s Late Show is nothing more than capitalism playing out in real time. In an explosive series of posts on X, the Barstool Sports founder argued that CBS made a straightforward business decision when it pulled the plug on Colbert’s program just three days after his monologue lambasting the network’s parent, Paramount, for a $16 million settlement with former President Donald Trump.
Portnoy specifically called out Senators Elizabeth Warren and Bernie Sanders for suggesting that Paramount acted out of political retribution. He highlighted publicly available financial data, including a Reuters report showing the Late Show lost nearly $40 million last year. Drawing from his own playbook, Portnoy pointed out that if a Barstool host disrespected him on air and cost the company millions, he would not hesitate to cancel their platform. His argument hinges on simple math: declining ratings plus soaring production costs equals fiscal nonsensicality.
In his X commentary, Portnoy painted Colbert’s network critique as “pure arrogance,” noting that any executive would retract funding for a loss-making venture, regardless of political posturing. He emphasized the stark contrast in cost-per-viewer metrics between traditional late-night TV and the lean, mean podcasts Barstool produces. Citing viewership statistics from Nielsen and audience declines reported by industry analysts, Portnoy underscored that late-night shows are more expensive and reach fewer eyeballs than many modern digital alternatives.
Despite admiring late-night pioneers like David Letterman, Portnoy confessed he has never been a devoted Colbert fan and lost interest after Colbert departed Comedy Central. This personal disclaimer only bolsters Portnoy’s claim that his stance is purely financial, not personal or ideological. He insists CBS’s timing was perfect from a corporate standpoint: cut losses, redeploy talent, and watch the bottom line improve.
Back in his final season announcement, Colbert struck a surprisingly gentle tone toward CBS, hinting that he might dial back his network jabs before the show wraps. Fans will be watching every monologue for signs of renewed bomb-throwing or a conciliatory return to safe comedy. With Paramount’s high-stakes legal settlement still under scrutiny, the question remains whether Colbert’s final run will focus on addressing those controversies or maintaining a truce.
Whether you cheer Portnoy’s cold-blooded capitalism thesis or side with viewers mourning the end of an era, one thing is clear: the business of late-night television is shifting beneath our feet. Now take this insight and charge ahead.
Sources: Celebrity Storm and TMZ, Reuters
Attribution: Creative Commons Licensed
