Stephen Colbert's final risky Late Show move could have cost CBS millions

Stephen Colbert hosted his final episode of The Late Show last night, taking the opportunity to burn all remaining bridges with CBS.

Fans believe a controversial move by the much-loved presenter may have lasting consequences for the broadcaster. Now, CBS, bosses of which axed Colbert's show last year in what they claimed was a 'financial' decision, could be facing a hefty fee as a result.

Opening the finale, the 62-year-old began: "We love doing this show for you, but we really, really love doing the show with you. Now, I'll say to you what I've said to every audience for the last 11 years, and I've meant it every time: Have a good show. Thanks for being here. And let's do it, y'all."

For his last blowout, Colbert invited a dazzling array of A-list stars to accompany him on set, including Bryan Cranston, Paul Rudd, Tim Meadows, Tig Notaro, Ryan Reynolds, Paul McCartney, Jon Stewart, Neil DeGrasse Tyson, John Oliver, Jimmy Fallon, Seth Meyers, Jimmy Kimmel and Elijah Wood.

During his famous 'Meanwhile' segment, the host turned his attention to a recent news story involving a copyright lawsuit filed by the creators of Charlie Brown against the illegal use of music by the creators of Peanuts TV specials.

"Now, Peanuts is a powerful brand and corporation in and of itself," he explained. "Anyone illegally using that music is going to have to pay through the nose..."

Colbert's comments were then interrupted by the show's in-house band, Louis Cato and the Great Big Joy Machine, who suddenly began playing theme music from Peanuts.

"Louis?" Colbert asked. "Are you really playing the same Peanuts music that I just said people were being sued for using without permission?"

Colbert invited a number of huge-name stars onto the show (Scott Kowalchyk/CBS via Getty Images)

In a final jibe at the broadcaster, the presenter turned to the camera and smirked before adding, 'Oh no, I hope this doesn’t cost CBS any money…'

Unsurprisingly, the move quickly set the internet ablaze, with one X user noting: "LOL Stephen Colbert is making his band play licensed music during his final show so CBS – who fired him – will get sued and have to pay millions."

Another joked: "Colbert billing CBS with the Peanuts theme on his way out is elite pettiness. Conan did it first, but this still slaps."

"He is going to cost the network MILLIONS in royalties," a third added. "And he smiled through the whole thing. This is the GREATEST exit in television history."

Colbert joked that the move could cost CBS a hefty fee (Scott Kowalchyk/CBS via Getty Images)

CBS announced the cancellation of Colbert's show last year after the host explicitly criticised the network's parent company, Paramount, for its $16 million settlement with Donald Trump.

The US President had previously accused CBS News' 60 Minutes of deceptively editing his electoral debate with former Vice President Kamala Harris in the Democratic leader's favour.

Colbert described the payment subsequently paid to Trump as a 'big fat bribe'.

Days later, Paramount co-CEO George Cheeks, CBS Entertainment president Amy Reisenbach and CBS Studios president David Stapf all signed the notice announcing the Late Show was to air its final episode in May 2026.

Trump accused Paramount of editing the debate (Win McNamee/Getty Images)

"He and the broadcast will be remembered in the pantheon of greats that graced late-night television," the trio claimed in an official statement. "This 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."