Colbert lost 10% of his audience in Q1 2024, so losses were mounting. There is less of a business case for late night.
CBS didn’t fire Colbert this year either. They decided not to renew his contract, which ends at the end the 2025/6 season. If they’d fired him, there would likely be large penalty clauses involved. What they did do earlier was decide not to fill the post-Colbert slot when their previous show ended, signalling a general move away from late-night.
It’s very clear from context that the sentence refers to Britain.