Stephen Colbert has responded to news that the U.S. government has approved Paramount's $8.6 billion merger with Skydance Media, a deal which is widely speculated to be a reason behind the Late Show's recent cancellation. With little left to lose, the Late Show host did not hold back in mocking his soon-to-be former employer.

"I'm thrilled for everyone at Paramount that the deal went through and very excited for our newly announced official combined Paramount-SkyDance stock ticker name, which will go from 'PARA' to 'PSKY,'" quipped Colbert. "Soon, PSKY will blast hot streaming content right in your face with hits like Yellowstone, Yellowjackets, and the full variety of water sports. I predict PSKY will become synonymous with number one. PSKY: a pitcher of warm entertainment."

Colbert also took note of President Donald Trump taking to social media to deride other networks as well. The U.S. president has claimed the Late Show's cancellation as a victory, gloating over the decision and expressing a desire for other late night hosts to meet a similar fate.

"First it was CBS, now he's going after ABC and NBC," said Colbert. "To which I say: Come on in, Jimmy [Fallon] and Jimmy [Kimmel]. The water's warm — 'cause of all the PSKYs."