Paramount Global shares fall 1.25% after-hours as CBS cancels Stephen Colbert's late-night show.

Paramount Global's stock price decreased by 1.25% in after-hours trading. The decline in stock price can be attributed to the cancellation of Stephen Colbert's late-night show, 'The Late Show,' by CBS. CBS executives stated that the decision was purely financial, citing a challenging backdrop in the late-night genre. However, the move comes after Colbert's criticism of a settlement between Paramount Global and President Donald Trump over a '60 Minutes' story.