The entertainment industry is buzzing after Paramount and Warner Bros. Discovery announced a $111 billion merger. While executives praised the deal as a way to build a “next-generation media and entertainment company,” fans of late-night television are worried about what it means for HBO’s Last Week Tonight With John Oliver.
Contract Concerns
John Oliver’s Emmy-winning show is only under contract until the end of 2026. With Paramount already preparing to end The Late Show With Stephen Colbert in May, speculation has grown that Oliver’s program could be next. On social media, viewers expressed concern that the merger might lead to HBO cutting ties with Oliver, especially given the show’s sharp political commentary.
John Oliver’s only under contract until the end of this calendar year, so expect this to be the final season of Last Week Tonight on HBO. David Ellison already got rid of Stephen Colbert pic.twitter.com/jVolO9KSd3
— Nick Field (@nick_field90) February 26, 2026
Fan Reactions
One user on X wrote: “John Oliver’s only under contract until the end of this calendar year, so expect this to be the final season.” Another added, “I hope not, but I can see where this is going.” Some even suggested the merger could silence Oliver’s voice, comparing it to Colbert’s departure.
Executives Defend the Deal
Paramount CEO David Ellison said the merger was guided by a clear purpose: “to honor the legacy of two iconic companies while accelerating our vision.” Warner Bros. Discovery CEO David Zaslav echoed that sentiment, emphasizing the goal of maximizing value for investors while protecting the studio’s assets.
What’s Next for Oliver?
For now, Last Week Tonight continues to air Sundays at 11 p.m. ET on HBO, with episodes streaming on Hulu the next day. Whether Oliver’s biting satire survives beyond 2026 will depend on how the merged company reshapes its late-night lineup. Fans remain hopeful that Oliver’s unique voice will endure, but the uncertainty highlights how corporate mergers can ripple through creative programming.
