Even CNN’s Brian Stelter, no fan of Trump, said as much, writing: “The bottom has indeed been falling out of the late-night TV business model for several years now. Audience fragmentation and digital competition have led to a decline in ad revenue across the board. One insider described it as ‘cratering’ at CBS.”

President Trump is celebrating the cancellation of Stephen Colbert's 'The Late Show' on CBS — and calling for even more late-night hosts to lose their jobs.