Stephen Colbert has launched another scathing attack on his employer after his show was canned for losing $40million

Stephen Colbert has launched another scathing attack on employer Paramount following the media conglomerate’s decision to can his show for hemorrhaging money.

The bitter television host used his Monday night program to mock the Paramount-Skydance merger with a series of toilet-themed jokes and pee puns.

Colbert, 61, slammed the rebranding of the company’s stock ticker symbol, which is changing from ‘PARA’ to ‘PSKY’ after the deal.

‘I’m thrilled for everyone at Paramount that the deal went through and very excited for our newly announced official combined Paramount-Skydance stock ticker name, which will go from ‘PARA’ to ‘PSKY,’ Colbert said with sarcasm.

‘Soon, PSKY will blast hot streaming content right in your face. With hits like “Yellowstone”, “Yellowjackets”, and a full variety of water sports.’

‘I predict PSKY will become synonymous with number one. PSKY, a pitcher of warm entertainment,’ he continued.

His roast comes after CBS, which owns Paramount, declined to renew Colbert’s contract with his show set to end its run in May 2026.

CBS announced the cancellation of the Late Show with Stephen Colbert earlier this month, just days after the host blasted the network’s $16 million settlement with President Trump as a ‘big fat bribe’.

Executives said the decision was made after the show’s revenue plummeted by around $40 million a year.

Colbert’s show, which began in 2015, will now come to an end in May 2026, executives with the network and Paramount, its new parent company, announced.

‘The Late Show with Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season,’ they said in a statement.

‘We consider Stephen Colbert irreplaceable and will retire the Late Show franchise at that time,’ the executives continued. ‘We are proud that Stephen called CBS home. He and his broadcast will be remembered in the pantheon of greats that graced late night television.’

The network explained that the decision to cancel the show is ‘purely a financial decision against a challenging backdrop in late night.’

‘It is not related in any way to the show’s performance, content or other matters happening at Paramount,’ it added.

George Cheeks attends Variety’s TV FYC Fest at 1 Hotel West Hollywood on June 06, 2024 in West Hollywood, California

CBS, which is owned by Paramount, announced that it is ending the Late Show program earlier this month

But the timings of the announcement comes just days after Colbert slammed the network for settling the president’s lawsuit led to many questioning whether the cancelation may be political retaliation.

‘If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better,’ California Sen. Adam Schiff – who is set to appear on Thursday night’s episode – posted on X.

A rally organized to protest the cancellation of Colbert’s flagship show fell flat at the weekend with just 20 people showing up.

Organizers gathered outside of the CBS Broadcast Center in New York City on Sunday, with fewer than two dozen people appearing to protest.

Images taken at the protest show a small number gathering outside of the building, holding banners and placards, some which said ‘I’m with Colbert’. A video taken at the scene also shows the low turnout.