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Stephen Colbert weighs in on Paramount trying to outbid Netflix for Warner Bros.

December 10, 2025
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Paramount is currently trying to overtop Netflix’s bid to buy Warner Bros., and Stephen Colbert — who works for Paramount-owned CBS, and whose show is due to end next April due to its controversial cancellation — has something to say about the big figures being thrown around.

“Friday we learned that Netflix put in a bid to acquire Warner Brothers for $82.7 billion,” the Late Show host says in the clip above. “That’s a lot of cash. You know what that means? Someone, somewhere, must be paying for their own Netflix account. But just yesterday morning my beloved parent company, Paramount, reportedly launched a hostile takeover bid for Warner Brothers valued at $108 billion. Wow. I gotta say, if my company’s got that kind of green, I’m sure they can afford to uncancel one of their best shows.”

The Late Show-loaded comment leads to cheers and a growing chant of “Stephen, Stephen!”

“CBS, you heard the people!” cries Colbert. “Bring back The Equalizer!”

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