John Oliver reacts to ‘Late Show with Stephen Colbert’ cancellation

John Oliver is mourning the end of “The Late Show with Stephen Colbert.”

The “Last Week Tonight” host, 48, spoke about CBS’ decision to cancel Colbert’s late-night show, calling it “terrible news for the world of comedy.”

“Obviously, I love Stephen, I love his staff, I love that show. It’s incredibly sad,” Oliver told the Associated Press on Sunday.

“I’m partly excited to see what they’re gonna do for the next 10 months,” the comedian added. “It’s terrible, terrible news for the world of comedy.”

Oliver continued: “Late-night shows mean a lot to me, not just because I work in them, because even growing up in England, I would watch Letterman’s show, which of course was Stephen’s show, and think about what a glamorous world that was. So to have got to have been on Letterman’s show and Stephen’s show was always one of the most fun things.”

“So it’s very, very, very sad news,” he reiterated. “I look forward to seeing what [Colbert is] gonna do next because that man will not stop.”

Oliver — who has hosted HBO’s “Last Week Tonight” since 2014 —  and Colbert, 61, both previously served as correspondents on “The Daily Show.” Oliver has appeared on Colbert’s “Late Show” many times over the years.

On Thursday, CBS made the shock announcement that “The Late Show” franchise will end in May 2026 after 33 years on the air.

The network claimed it was “purely a financial decision.”

“We are proud that Stephen called CBS home,” the statement from CBS executives read. “He and the broadcast will be remembered in the pantheon of greats that graced late night television.”

Colbert, who has hosted the show since 2015, shared the news himself during the taping of Thursday’s show at NYC’s Ed Sullivan Theatre.

“I’m not being replaced, this is all just going away,” he told the audience.

Colbert also called CBS execs “great partners” and said he was “extraordinarily, deeply grateful to the 200 people who work here.”

The Post learned from sources that CBS shafted “The Late Show” because of financial losses, including a lack of advertisers — and not because of Colbert’s politics.

Days before the cancellation news, Colbert took a dig at Tiffany Network, which is owned by CBS’ parent company Paramount, over its $16 million settlement with Donald Trump over a controversial “60 Minutes” interview with Kamala Harris ahead of the expected Skydance Media-Paramount merger.

Skydance CEO David Ellison is the son of Trump’s pal, tech billionaire Larry Ellison.

“I am offended, and I don’t know if anything will ever repair my trust in this company,” Colbert said in his monologue last Monday night. “But just taking a stab at it, I’d say $16 million would help.”

Ultimately, Paramount’s co-CEO George Cheeks pulled the plug on the talk show.

“Colbert gets no advertising and late night is a tough spot,” said a person with direct knowledge of CBS’s decision to The Post. “Colbert might be No. 1, but who watches late night TV anymore?”

Trump celebrated the show’s end via Truth Social on Friday.

“I absolutely love that Colbert got fired,” the president, 79, wrote. “His talent was even less than his ratings. I hear Jimmy Kimmel is next. Has even less talent than Colbert!”