Rumors about the $40 million annual losses appeared to stem from reports published by a media outlet called Puck and the New York Post.

CBS has canceled The Late Show with Stephen Colbert just a few days after Colbert criticised the network’s parent company, Paramount, for its high-profile settlement with President Trump.

David Rhodes, Sky News executive chairman and former CBS News head, is in talks to run CBS News again if the Skydance acquisition of the broadcaster's owner Paramount Global closes, digital news website Puck reported on Friday.

Paramount Global said Tuesday that the entertainment and media company is cutting 3.5% of its workforce, citing challenges in the broader U.S. economy and in the linear television business.

The latest meeting comes after David Ellison spoke with the agency's chairman Brendan Carr about the pending $8 billion deal

Show” star Jimmy Fallon quipped he may be the next late-night host to get canned as he blasted CBS for pulling the plug on Stephen Colbert. “I am your host. Well, at least for tonight,” Fallon said during Monday’s monologue.

Paramount has reportedly reached a 5-year, $1.5 billion streaming deal with the show’s creators, after the company’s incoming owners sought to rework an earlier agreement.

Days after its first elimination of the season, a hit CBS reality TV show is climbing the Paramount Plus chart, proving it still has what it takes.