Episode Overview

Podcast: Bill O’Reilly’s No Spin News and Analysis
Episode: No Spin News Special: Late Night
Date: August 27, 2025
Host: Bill O'Reilly
Guest: Bernard Goldberg

This special episode centers on the cancellation of Stephen Colbert's "The Late Show" following the sale of CBS to the more conservative Skydance Media. Bill O'Reilly and media analyst Bernard Goldberg discuss the broader implications for network television, media bias, and the late night genre. The conversation critiques the persistent left-lean of major networks and late-night hosts, explores why these trends are leading to financial failure, and considers what the future holds for traditional broadcast news and comedy programming.

Key Discussion Points & Insights

1. Stephen Colbert’s Cancellation: Causes and Implications

• Colbert's Decline

  • O’Reilly opens by discussing Trump's celebration of Colbert’s exit and highlights how Colbert differs from other late night hosts:
    • “Colbert, he's of all of them, he's my least favorite because he was in it to harm people with whom he disagrees. That's what he was in it for. Stewart's in it for comedy, satire… Colbert is canceled and there's two reasons why. Number one, CBS is being sold... Number two, the Colbert show lost $40 million last year. Why? Because Colbert is not funny anymore.” [00:28]

• Financial and Corporate Reasons

  • O'Reilly notes CBS's $40 million loss on Colbert’s show and the network’s pending sale to Skydance as driving forces.
  • "Colbert is canceled... CBS is being sold to a more conservative corporation called Skydance. And number two, The Colbert Show lost $40 million last year.” [00:28]

2. The Broader Decline of Network Television

• Network Television’s Struggles

  • O’Reilly frames Colbert's departure as symptomatic of larger, existential problems for traditional television:
    • "I think this is a bigger story than Stephen Colbert... network television is finished. It is over. It is not coming back. And that includes the news agencies." [03:26]

• Bias and Audience Alienation

  • O’Reilly and Goldberg blame media bias for declining network influence, asserting mainstream media alienates half of the country:
    • “There isn’t one traditional conservative commentator to be seen on the entire network. Do you think that has something to do with its demise?” [04:23]
    • Goldberg: “Yeah, I do. Bias... was a warning shot.” [04:49]

• Profit vs. Ideology

  • The hosts argue that ideology now trumps profit in corporate media decisions:
    • “Ideology... it's hard to believe, but it's true. Ideology in the corporate media has overtaken profit motive. It's stunning.” [11:45]

3. Evolution of Late Night and Media Bias

• Guest Diversity and Censorship

  • O’Reilly and Goldberg directly criticize Colbert for excluding conservative voices:
    • “You could not get on his program unless you hated Trump.” [16:34]
    • “In 20, since 2022... Colbert has hosted 176 left leaning guests. Only one Republican. Guess who the Republican was? Liz Cheney, who hates Trump.” [17:26]

• Double Standards in Satire

  • O’Reilly points out differing standards for disrespect towards political figures:
    • “If Colbert had said ‘go f yourself’ to Barack Obama, he would have been off the air... But he can do that to Donald Trump. And they ran it. So that just tells you what CBS is.” [13:24]

• Late Night Show Political Lean

  • Analysis of overall guest imbalance on late night television:
    • “Late night 99% of political guests on late night comedy shows lean left. 99% in the first half of this year.” [17:26]

4. Corporate Shifts and the Future

• New Ownership Intentions

  • Goldberg discusses Skydance and the Ellison family’s reported plans for CBS:
    • "David Ellison... met with [FCC Chairman] Brandon Carr... ‘I want more variety of voices at CBS News.’” [07:04]
    • "There's a better chance that you, Bill O’Reilly, will be the next anchor of the CBS Evening News than will Scott Pelley... They want a variety of voices." [07:04]

• Potential Domino Effect

  • Predictions on further fallout at CBS and other liberal-leaning shows:
    • O'Reilly: “If I'm working for CBS, I'm looking for another job. Skydance is going to go in and wipe out everybody because it's corrupt. CBS News, no doubt about it. We all know that." [09:30]
    • “I made a prediction this morning. The View is going to realign. Now, I could be wrong. I'm not wrong too much. You know that... I predicted Colbert would be out before they made the announcement.” [14:39]

Notable Quotes & Memorable Moments

• On Alienating Audiences:

  • Goldberg: “It's as if these people don't understand that Republicans have TV sets too.” [09:06], [11:22]

• Summing Up the Leftward Drift:

  • O’Reilly: “All have taken their network franchises way to the left, not a little way to the left. Why would you hire a Stephen Colbert when 80 million people voted for Donald Trump and not one of those people are ever going to watch Stephen Colbert?” [08:32]

• On Colbert's On-Air Language:

  • O'Reilly: “If Colbert had said ‘go f yourself’ to Barack Obama, he would have been off the air. That show never would have run... But he can do that to Donald Trump. And they ran it. So that just tells you what CBS is.” [13:24]

• Satirical Riffs from Colbert (as played by O’Reilly):

  • Colbert: “At this point, Trump isn't even trying to hide his awfulness… This time, he is the disease.” [02:26]
  • Colbert: “Would an untalented man be able to compose the following satirical witticism? Go yourself.” [13:05]

Timestamps for Important Segments

• 00:28 — O’Reilly opens the discussion on Colbert and the changing late night landscape
• 02:26 — Audio clip of Colbert’s “Trump is the disease” bit
• 03:26 — O’Reilly predicts demise of network television
• 04:49 — Goldberg reflects on CBS and media bias
• 07:04 — Goldberg on Skydance’s plans for CBS
• 09:06/11:22 — “Republicans have TV sets too” discussion
• 11:45 — Discussion of ideology overriding profit motive
• 12:39 — More audio from Colbert addressing his own cancellation
• 13:24 — O’Reilly on Colbert’s Trump insult and double standards
• 16:34 — Goldberg: Colbert censored his guest list to exclude Trump supporters
• 17:26 — O’Reilly with data on guest distribution on late night

Summary

Bill O’Reilly and Bernard Goldberg use the cancellation of "The Late Show with Stephen Colbert" as a jumping-off point to examine the current state and future of network television. Their critique is two-fold: network TV and late night have both become financially unsustainable and ideologically exclusive, largely due to a leftward shift that alienates a huge swath of the audience. They predict that upcoming ownership changes will force out left-leaning hosts and bring ideological variety—or, at the very least, generate a reckoning for long-standing media bias.

The tone is classic O’Reilly: combative, skeptical of the mainstream media, and deeply concerned about ideological imbalance in news and entertainment. Goldberg supports these viewpoints with anecdotes from his own career and industry knowledge, painting a picture of a media landscape overdue for radical change.