New Delhi, July 19 -- CBS says its decision to end Stephen Colbert's late-night comedy show is financial, not political. Yet even with the ample skepticism about that explanation, there's no denying the economics were not working in Colbert's favor.

The network's bombshell announcement late Thursday that the "Late Show" will end next May takes away President Donald Trump's most prominent TV critic and the most popular entertainment program in its genre.

The television industry's declining economic health means similar hard calls are already being made with personalities and programming, with others to be faced in the future. For the late-night genre, there are unique factors to consider.

As recently as 2018, broadcast networks took in ...