Paramount Picks South Park Over Colbert: Trey Parker and Matt Stone Get Big Comedy Bucks, Late Show Done

Paramount Global has resolved a tense standoff with South Park creators Trey Parker and Matt Stone, signing a five-year, $1.5 billion deal for exclusive global streaming rights and ten new episodes annually on Paramount Plus.

The contract was finalized just in time for the delayed Season 27 premiere, following public threats of legal action from Parker and Stone. This marks a significant alignment between creator demands and Paramount’s content strategy—and it comes amid broader organizational upheaval.

A scene from South Park season 27 – YouTube, South Park Studios

At the same time, Paramount has announced it will cancel The Late Show with Stephen Colbert, scheduled to air through May 2026. The network cited “purely financial” reasons, despite Colbert’s consistent number-one ratings for nine seasons on network television. However, Colbert and the other late night hosts have seen significant declines in viewership and have not topped Gutfeld! on Fox News for the top overall late night show in almost two years. In fact, Gutfeld! regularly has ratings that would beat two of the traditional late night shows combined. Many on the left continue to speculate Paramount’s decision was politically motivated, given the network’s $16 million settlement with Donald Trump over the 60 Minutes interview and the timing of the merger review with Skydance Media, prompting accusations that Paramount chose to discipline its most outspoken liberal voice.

Support for Colbert poured in from across the late-night landscape. Jon Stewart lambasted Paramount on The Daily Show, accusing the company of cowardice and urging them to “go f— yourself”. Jimmy Fallon and other hosts voiced solidarity, with Fallon quipping he might be next on the chopping block. Meanwhile, the WGA flagged Paramount’s decision as potentially politically driven, arguing it sends a threatening message to satirical speech. Sunny Hostin, of The View, went the farthest perhaps… declaring that Stephen Colbert losing his show (which has reportedly lost $40m per year for years) was a danger to the constitution of the United States.

Sunny Hostin on Colbert cancellation: “If the comedians are being attacked, then that means our Constitution is being dismantled.”

Incredible. pic.twitter.com/BItWbvcCr8

— Western Lensman (@WesternLensman) July 22, 2025

A more sober-minded (and sane) view of the situation, however, reveals that Paramount is likely aiming for less partisan fare—likely at the behest of Skydance. Otherwise, why pay massive money to get the rights to South Park?

The juxtaposition of these two deals suggests Paramount may be shifting its focus toward less politically charged comedy. South Park, while known for satirical fire, delivers its critiques through a cartoon lens—arguably detached from direct partisan targeting—making it more palatable to a broader global audience. In contrast, Colbert has been an overt critic of Trump and conservative politics, most recently labeling the Trump settlement a “bribe” Nate Silver. And though South Park has mocked President Trump repeatedly, even through entire seasons, they are renowned for taking on all sides and not catering to any particular political point of view.

The timing is notable. Paramount’s aggressive investment in South Park comes as Skydance prepares for an $8 billion acquisition, pending FCC and regulatory approval—a process where perceived neutrality may be rewarded. Meanwhile, Colbert, a perceived ratings powerhouse, was sacrificed, raising questions about the company’s threshold for financially and politically costly programs which seems answered by the South Park decision. A carousel of celebrities criticizing the business move as some sort of inappropriate overture to President Trump seems to fall under scrutiny and only makes people like Weird Al and Adam Sandler (both of whom are normally far outside the political spotlight) tarnished by being associated with such a colossal failure.

It’s sort of sad to watch the old guard circling the wagon and screeching about the injustice of a financial failure show being taken off the air. It’s like a football team that refuses to accept the scoreboard, blaming on the referees even when the game was never close. In this case, there is a winner… it’s South Park. And maybe the other winner is the consumer, who will be given a viciously funny show that pokes its finger in the eyes of both sides. Perhaps that’s the cathartic thing society needs right now. It certainly seems to be what the market needs. 

So goodbye, Colbert. Welcome back, Cartman.