CBS brass say they pulled the plug on “The Late Show with Stephen Colbert” because of its punishing losses and claim politics had nothing to do with it, The Post has learned.

John Oliver has spoken out following the surprise cancellation of The Late Show with Stephen Colbert. Calling the decision “incredibly sad” and “terrible,” he expressed deep admiration for Colbert and his team.

Paramount, the network’s parent, recently agreed to pay President Trump $16 million to settle his lawsuit over the editing of an interview on the CBS News program “60 Minutes.”