Stephen Colbert jokes about Paramount offering $108 billion for Warner Bros. while canceling The Late Show, questioning the network’s priorities in a sharp new monologue.

Colbert Calls Out Paramount’s Mixed Messages

December 12, 2025: Stephen Colbert is once again using his trademark sarcasm to tackle a headline-making media shake-up — this time questioning why The Late Show was canceled if Paramount has $108 billion available to bid for Warner Bros. Discovery. In a newly released monologue, Colbert quipped that the numbers “aren’t adding up,” sparking laughter and renewed criticism of the network’s recent programming decisions.

His remarks came just days after Paramount shocked Hollywood by making one of the largest acquisition offers in entertainment history.

“You Can Buy Warner Bros. But Not Pay for My Desk?”

Colbert poked fun at the situation by contrasting Paramount’s record-breaking offer with the financial explanation executives gave when they canceled The Late Show. He joked that he was told the network needed to make “tough economic choices,” only to later learn they were preparing a $108 billion takeover attempt.

According to Colbert, the math left him wondering whether his show cost the company “the GDP of a small nation.”

HOLR has the latest news on how comedians continue responding to sweeping changes in the entertainment industry.

A Commentary on Corporate Priorities

Beneath the humor, Colbert’s monologue touched on a broader concern shared by many across Hollywood: massive corporate consolidation has reshaped priorities, with long-running shows and staff cuts often falling on the chopping block while billion-dollar mergers move forward.

Colbert highlighted the contrast, noting that cultural institutions like late-night comedy often pay the price for corporate restructuring.

Industry Reaction to Colbert’s Jab

Fans and industry insiders praised the comedian for addressing the contradiction head-on. Many viewers said his commentary reflects growing frustration with media companies funneling resources into mergers and acquisitions rather than preserving creative programming.

Others noted that Colbert’s ability to blend humor with pointed critique remains unmatched, even after the cancellation of his flagship show.

HOLR observes that comedians are increasingly becoming the loudest voices in conversations about media consolidation.

Paramount’s Bid Raises More Questions

Paramount’s $108 billion offer for Warner Bros. Discovery stunned analysts, especially given the company’s recent cost-cutting measures. If successful, the acquisition would reshape the global entertainment landscape — consolidating studios, streaming libraries, and major franchises under one corporate umbrella.

Colbert’s remarks highlight how these decisions ripple beyond boardrooms, affecting talent, staff, and the cultural ecosystem audiences rely on.

Colbert Isn’t Done Talking

While Colbert no longer hosts a nightly show, his commentary remains highly influential online. He ended the monologue by joking that if Paramount needs an extra $20, they could always revive The Late Show “for one farewell episode — sponsored by common sense.”

A Moment of Humor That Sparks Real Debate

With one punchline, Stephen Colbert reignited discussion about media mergers, corporate spending, and the shifting priorities that define modern entertainment. His joke was funny — but the question behind it remains serious.