Even before the shockwaves rippled through the entertainment industry over news that The Late Show with Stephen Colbert will be taken off the air in 2026, Jon Stewart was already grappling with questions about the future of his own iconic platform, The Daily Show. The veteran comedian, cultural commentator, and part-time host of the satirical news show isn’t one to mince words — and his recent comments have laid bare the anxiety and absurdity swirling around Paramount Global’s corporate shake-up.
In a world where media mergers often mean slashed budgets, retired franchises, and diminished creative autonomy, Stewart’s candor on the subject feels like a rare beacon of honesty. During the July 17 episode of his podcast, The Weekly Show with Jon Stewart, he fielded a question that now seems downright prophetic: what happens to The Daily Show if Skydance’s proposed $8.4 billion merger with Paramount Global gets the green light from the Federal Communications Commission?
His response was classic Stewart — part deadpan, part deeply thoughtful, and always tinged with wit.
“Unfortunately, we haven’t heard anything from them,” he said. “They haven’t called me and said, ‘Don’t get too comfortable in that office, Stewart.’ But let me tell you something. I’ve been kicked out of worse establishments than that. We’ll land on our feet.”
That moment of lighthearted defiance reveals a lot about Stewart’s mindset: ever resilient, but by no means naive. He understands the stakes, and he knows corporate decisions aren’t always about what a show means to a culture, but rather what it can return to shareholders.
Paramount’s announcement on July 17 that it would retire The Late Show franchise — Stephen Colbert’s home base since 2015 — sent a chill through the halls of late-night television. The statement, which labeled the move as “purely a financial decision,” was part of a broader effort by the media giant to streamline operations ahead of the proposed merger with Skydance Media.
The ripple effects of that move are likely to reach far beyond Colbert. With CBS and Comedy Central both under the Paramount umbrella, and with The Daily Show one of the last vestiges of cable-era satirical commentary, it’s hard not to wonder what’s next on the chopping block.
Adding fuel to the fire, Colbert himself had criticized Paramount days before the announcement, lambasting the company’s $16 million settlement with former President Donald Trump over a defamation lawsuit. On-air, Colbert sarcastically referred to the payout as “a big fat bribe” that might grease the wheels for regulatory approval of the merger. His public rebuke of the company may have added to the tension behind the scenes — and possibly accelerated the decision to sunset The Late Show.
Jon Stewart, for his part, isn’t clutching pearls over what might come. While he admits there’s a fog of uncertainty surrounding The Daily Show’s future, he refuses to be alarmist.
“No, but I honestly don’t know,” Stewart admitted on his podcast. “Without The Daily Show, Comedy Central’s kind of like Muzak at this point.”
That metaphor — comparing the once-edgy network to background elevator music — stings with truth. With so many of Comedy Central’s flagship shows gone or long past their prime, The Daily Show and South Park are arguably the last cultural powerhouses holding up the brand. But even legacy status doesn’t guarantee survival in today’s media landscape.
“I think we’re the only sort of life that exists on a current basis, other than South Park. I’d like to think we bring enough value to the property,” Stewart said. “Like if they’re looking at it as purely a real estate transaction, I think we bring a lot of value.”
That final line — “purely a real estate transaction” — cuts to the heart of the issue. Creative content is being increasingly treated as collateral, not cultural contribution. And Stewart knows this better than most.
Jon Stewart’s relationship with The Daily Show is more than just a gig — it’s a legacy. He began hosting in 1999, taking over from Craig Kilborn, and transformed the series from a niche satirical program into a cultural juggernaut. Under Stewart’s stewardship, The Daily Show became a cornerstone of political comedy, winning 24 Emmys over 16 years and launching the careers of many correspondents, including Steve Carell, Samantha Bee, John Oliver, and Stephen Colbert.
After stepping away in 2015, Stewart handed the reins to Trevor Noah, who brought his own global perspective and unique voice to the show for the next seven years. Stewart, meanwhile, experimented with other projects, including the Apple TV+ series The Problem with Jon Stewart, which ran for two seasons before ending somewhat abruptly.
In 2024, Stewart made a partial return to his old stomping grounds, agreeing to host The Daily Show on Mondays through the 2024 election cycle. Sharing hosting duties with correspondents like Ronny Chieng, Desi Lydic, Jordan Klepper, and Michael Kosta, Stewart’s presence offered a renewed sense of stability and relevance. But now, just as audiences were getting used to his return, the show’s future hangs in the balance.
While Stewart’s tone remains optimistic, his words betray a keen awareness that even landmark shows can be disposable in today’s volatile media economy.
“But that may not be their consideration,” he admitted. “I don’t know. They may sell the whole… place for parts. I just don’t know. We’ll deal with it when we do.”
That phrase — “sell the place for parts” — is haunting, especially for fans who’ve watched the slow erosion of late-night and cable comedy institutions. But Stewart, ever the realist, isn’t dwelling on it. Instead, he closed the segment with a bit of levity, invoking fellow comedian Jay Leno’s infamous line about Doritos.
“I’m so happy and proud of everyone that works over there. If they [Skydance] want to do that, knock themselves out. As Jay Leno would say about Doritos: Go ahead. Crunch all you want. We’ll make more.”
It’s a clever way to say that creativity can’t be killed — at least not entirely. If The Daily Show were to be shelved, Stewart and his team would find another outlet, another platform, another way to do what they’ve always done best: hold the powerful accountable, speak truth to absurdity, and find humor in the chaos of modern life.
What’s happening at Paramount isn’t just a corporate restructuring — it’s a sign of a deeper transformation in the entertainment industry. Streaming wars, advertising declines, and changing viewer habits have forced legacy media companies into reactive, often desperate, measures. Mergers like the proposed Skydance-Paramount deal promise financial lifelines, but they also bring cultural casualties.
As media conglomerates consolidate and lean toward algorithm-driven content decisions, the risk is that vital creative voices — especially those that challenge the status quo — get silenced. Stewart’s The Daily Show has always been more than entertainment. It has functioned as a critical mirror to society, a satirical watchdog in an increasingly fragmented news environment.
If that disappears, what takes its place? More reality TV? Another true-crime docuseries? Perhaps another spin on the “celebrity dinner party” format?
For now, all eyes remain on the FCC. Whether it approves the Skydance-Paramount merger will determine much of what’s next for shows like The Daily Show. Until then, Stewart will keep doing what he’s always done — showing up, questioning the system, and getting the last laugh, even when the joke’s on him.
But make no mistake: the man who turned The Daily Show into a cultural institution isn’t sitting idly by. If The Daily Show ends, Stewart’s influence will not. Whether in another podcast, another platform, or an entirely new format, his voice — and that of his colleagues — will find its way back to the audience that needs it.
Because in a world this absurd, satire isn’t just entertainment — it’s survival. And Jon Stewart, whatever happens to The Daily Show, isn’t going anywhere.