Former "Full Frontal" host Samantha Bee explained how legacy late-night shows like Stephen Colbert's have been struggling financially as audiences have turned to phones and streaming.

CBS is canceling “The Late Show With Stephen Colbert” next May, shuttering a decades-old TV institution and removing from air one of President Donald Trump's most prominent late-night critics.

I know so many people who work there. I love Stephen. I consider him to be a friend,” Bee said, but noted she was "not surprised" by Paramount's decision.