Though the cancellation comes days after Stephen Colbert criticized Paramount for settling a Trump lawsuit, the company said it was 'purely a financial decision.'

Network late-night shows have been losing viewers for years, but Colbert‘s program is primed for a ratings bump right now.

In a statement on Thursday, the network said the late-night talk show was being canceled for financial reasons. Those reasons are associated with Paramount's proposed merger with Skydance Media, which requires Federal Communications Commission (FCC) approval under the Trump administration. Paramount is the parent company of CBS.