The Late Show With Stephen Colbert has never won any Emmy in its previous nine seasons despite some notable streaks of excellence. (It has been nominated 31 times.) For much of that period, it competed in late-night’s top category against Last Week Tonight With John Oliver, which Emmy voters love the way Oliver loves a minor-league baseball team.

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.