NBC is making it clear that Jimmy Fallon and Seth Meyers are not going anywhere, even as the late-night world reels from CBS’s stunning decision to pull the plug on Stephen Colbert’s Late Show.

The world of late-night television was rocked this summer when CBS confirmed that *The Late Show with Stephen Colbert* would be ending in May 2026, after more than a decade on the air under Colbert’s stewardship.

The decision, explained by the network as “purely financial,” has sparked heated conversations across the industry about whether the traditional late-night format is sustainable in a fractured media landscape dominated by TikTok, YouTube, and streaming platforms.

Now, one of television’s most powerful voices—Lorne Michaels, the co-creator and longtime producer of *Saturday Night Live*—is weighing in, and his message to NBC’s late-night fans is clear: Jimmy Fallon and Seth Meyers are not going anywhere.

Michaels, 80, sat down for a wide-ranging interview with Puck News in which he addressed the Colbert cancellation and the broader future of late-night. “I was just stunned,” he said of CBS parent company Paramount’s move to end *The Late Show*.

He described Colbert, along with NBC’s *Late Night* host Seth Meyers, as “heirs” to David Letterman, whose irreverent style reshaped the genre in the 1980s and ’90s.

Michaels praised both Colbert and Meyers for maintaining a commitment to nightly topical comedy that “everybody’s watching that night,” drawing a parallel to *SNL’s* own tradition of live, appointment-viewing humor.

Still, Michaels acknowledged that the late-night audience has split into two camps. “There’s two audiences now,” he explained.

“There’s the audience that is watching on TikTok and YouTube, and there’s a linear audience.” That division, he suggested, is at the core of the challenges late-night shows face as they try to remain relevant.

While Colbert and Meyers are rooted in Letterman’s lineage, Fallon has shifted more deliberately toward creating short, viral-ready moments. “Fallon’s show is more clip-friendly,” Michaels said. “You can consume it all day.”

NBC, unlike CBS, appears more comfortable with this new reality. Michaels expressed full confidence in both Fallon and Meyers’ futures at the network, citing his admiration for Comcast CEO Brian Roberts.

“Yes,” Michaels said firmly when asked whether the two were safe from cancellation.

“I think Brian Roberts—who I will be working for for the rest of my life, who I have very high admiration for—has integrity. At the same time, everyone has broadcast licenses … But I really don’t believe that we affect things.”

His reassurance comes amid rampant speculation that Colbert’s cancellation might have been influenced by more than just money.

Colbert has been one of Donald Trump’s most consistent and high-profile critics, and CBS’s parent company, Paramount Global, is in the middle of seeking federal approval for an \$8 billion merger with Skydance Media.

Some industry insiders have suggested that silencing Colbert could have been a strategic move to avoid political entanglements.

Michaels, however, was careful not to endorse that theory. “I don’t think any of us are going to ever know that,” he said, emphasizing instead that late-night hosts likely have less influence over politics than many believe.

“With this president, whatever crimes Trump is committing, he’s doing it in broad daylight,” Michaels remarked. “There is absolutely nothing that the people who vote for him—or me—don’t know.”

He added that Trump’s ability to command attention was often underestimated. “He is a really powerful media figure. He knows how to hold an audience. That’s a very powerful thing. His politics are obviously not my politics, but denouncing him doesn’t work.”

Michaels’ comments reflect both his pragmatism and his deep experience navigating decades of shifting television landscapes.

Since launching *Saturday Night Live* in 1975, he has overseen the careers of countless comedy icons, from Chevy Chase and Eddie Murphy to Tina Fey and Pete Davidson.

He has witnessed firsthand how television evolves in cycles—shows rise and fall, but adaptability is what determines survival. His confidence in Fallon and Meyers suggests that NBC is better positioned than CBS to ride out the turbulence in late-night.

Jimmy Fallon’s *Tonight Show*, for instance, has made a conscious pivot toward sketches and games designed to go viral online.

His “Lip Sync Battle” and musical impersonations have generated hundreds of millions of views on YouTube, often outpacing his traditional television ratings.

Seth Meyers, meanwhile, has carved out his own niche with “A Closer Look,” his signature deep-dive monologue segment that thrives on digital platforms as a shareable piece of political satire.

While Meyers’ linear TV ratings are modest, his digital audience is substantial, giving NBC reason to keep him in the lineup.

The contrast with Colbert is stark. Despite consistently winning in the ratings race against Fallon and Kimmel on ABC, *The Late Show* struggled to establish a strong digital presence.

Reports from Puck News claimed the show was losing more than \$40 million annually, though fellow host Jimmy Kimmel has publicly disputed that figure, calling it “beyond nonsensical.”

Kimmel argued that analysts ignored the massive affiliate fees networks earn from local stations, which should be factored into the economics of late-night.

For Colbert, whose biting political humor defined much of the Trump era, the impending end of his show is bittersweet. CBS has said it will retire *The Late Show* franchise altogether after his departure, closing the book on a format that began with David Letterman in 1993.

Colbert has promised to keep delivering his brand of satire until his final broadcast in 2026, but the cancellation has left fans and industry veterans alike questioning whether late-night as we know it is on the verge of extinction.

Michaels, however, does not appear ready to declare the genre dead. His assurances about Fallon and Meyers underscore his belief that late-night can survive if it evolves.

While Colbert’s exit raises alarms, NBC’s lineup seems stable for now, thanks in part to Michaels’ guidance and the network’s willingness to embrace digital trends. “Adaptation is the key,” one NBC insider noted.

“As long as Fallon and Meyers keep delivering content that people want to watch the next morning—or on their phones all day—they’ll be fine.”

Still, the landscape remains uncertain. With Paramount retreating from late-night and ABC’s Jimmy Kimmel openly questioning the industry’s financial narratives, the format faces more scrutiny than ever before.

For viewers, though, the message from Michaels is reassuring: at least on NBC, Jimmy Fallon and Seth Meyers will continue cracking jokes well past Colbert’s final bow.

As late-night enters this new chapter, Michaels’ voice carries the weight of history. He has kept *SNL* alive for nearly 50 years, shepherding it through cultural upheavals, changing presidents, and countless industry transformations.

If he believes Fallon and Meyers are safe, it’s a sign that NBC’s late-night isn’t just surviving — it’s preparing to outlast the storm.