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The Colbert Market

While Trump sics the F.C.C.’s attack dog on the late-night shows, he’s giving Colbert, Kimmel, and Meyers the relevance they’ve been steadily leaching over the past decade or so. While democracy’s defenders will correctly cry foul, you have to ask: Where would late-night comedy be without Trump?

Stephen Colbert
Late night’s battles with the F.C.C. represent the last gasp of this dynamic. Kimmel’s temporary suspension drove record-high ratings to 'Jimmy Kimmel Live!,' which then quickly returned to Earth. The same is happening now with Colbert’s 'Late Show,' which will shutter entirely in May. Photo: Eric Charbonneau/Apple TV+/Getty Images
Dylan Byers
February 20, 2026

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On Wednesday, days after Stephen Colbert insinuated that the top brass at CBS had censored his show amid pressure from President Trump’s Federal Communications Commission, the agency’s provocatory chair, Brendan Carr, took another twist of the knife: “Look, I get it,” he said at a press conference. “It’s tough to be Colbert. He’s had what he probably views as a long and distinguished career in the limelight. He sees that that limelight is fading, is coming to an end. That’s got to be a difficult time for him. I get it.”