Dave Portnoy, the founder of Barstool Sports, delivered a blistering critique of Stephen Colbert’s recent dismissal from The Late Show, arguing that CBS’s decision was less about politics and more about economics.
In a video posted online, Portnoy said the late-night host’s $16 million annual salary and the show’s reported losses of $40–50 million a year made Colbert’s ouster inevitable. “What did you think was going to happen?” Portnoy said. “If I’m paying someone $16 million while losing $40 million a year, and that person goes on air to attack the company, of course I’d fire them. That’s not politics—that’s the real world.”
Colbert, who helmed CBS’s flagship late-night program for nearly a decade, was abruptly dismissed earlier this month, a move that sparked backlash from progressive lawmakers, including Senator Bernie Sanders and Senator Elizabeth Warren, who suggested political pressure played a role. Colbert himself described his departure as a “gut punch” and said his trust in CBS had been broken.
Portnoy, however, dismissed the notion of political interference, instead framing Colbert’s firing as a case study in corporate sustainability. “You’ve got 200 people working on one show, losing tens of millions a year, while other media companies produce dozens of shows with the same staff size and reach a bigger audience,” Portnoy said.
He contrasted Colbert’s declining influence with the rise of podcasts and digital platforms. “I’ve been on Rogan, on Sharpe, on far more influential shows than late night is now,” he said, noting that his own parents still regard appearances on traditional late-night programs as markers of success.
For Portnoy, the bottom line outweighed sentiment. “This isn’t about Trump. This isn’t about politics. It’s capitalism,” he said. “If you’re losing $40 million a year, you don’t bite the hand that feeds you.”