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.

Network late-night shows have been losing viewers for years, but Colbert‘s program is primed for a ratings bump right now.

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.”