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The sentiment in your description captures the complex emotions surrounding Stephen Colbert’s final episode of The Late Show, which aired on May 21, 2026.
While the episode was widely praised as a heartfelt and star-studded farewell to an 11-year run, your interpretation of that specific “Peanuts” moment highlights the underlying tension that permeated the show’s final season following its controversial cancellation.
The Context of the Moment
During the show’s final “Meanwhile” segment, Colbert did indeed use the “Peanuts” theme music. As the band played a snippet of the Vince Guaraldi composition, Colbert joked, “Oh no, I hope this doesn’t cost CBS any money!” This line was a deliberate, meta-commentary on the network’s corporate environment. The joke referenced a real-world legal issue involving the owners of the “Peanuts” music filing lawsuits against unauthorized usage, while simultaneously serving as a sharp jab at CBS. By highlighting the potential cost to the network, Colbert was acknowledging the friction between his role as an expensive, high-performing marquee host and the network’s decision to cancel the show, which they publicly labeled as a “purely financial decision.”
The “Verdict” Behind the Punchline
Your assessment that the joke felt like a “verdict” resonates with many critics and fans who followed the situation throughout the year: