Jon Stewart hosts "The Daily Show." (Screen grab via Comedy Central)

Jon Stewart opened Monday’s episode of "The Daily Show" not mincing words, calling Paramount’s settlement with Donald Trump “shameful.” Just as he was digging in, a fake Arby’s ad suddenly appeared on screen, as if to cut him off mid-rant for criticizing Comedy Central's parent company. “Did they? Son of a bitch!” Stewart exclaimed, playing along with the bit—yet nodding to a deeper fear that his commentary might soon be silenced amid all the corporate upheaval.

Later in the episode, Stewart continued to needle Paramount, sitting down with former "60 Minutes" correspondent Steve Kroft for a candid and unsparing conversation. Kroft described the settlement in clear terms: “It was a shakedown.” Inside “The Daily Show,” I’m told staffers have taken pride that Stewart showed once again he is willing to stand up to powerful interests, even if it potentially risks his future employment. And while they may not yet know it, inside certain power circles, there is an open question: How much longer will Stewart have this platform?

Indeed, the reality is that the ground under not only Stewart, but also Stephen Colbert, is shifting fast. Skydance, led by Larry and David Ellison, now believes its merger with Paramount will close in the next several weeks, I'm told. Much of the attention has focused on how the Ellisons will reshape "60 Minutes" and CBS News. We first reported that David Ellison met with Bari Weiss about a possible role at CBS News, and it is clear the Ellisons want to rid the network of what they see as a liberal taint. But little has been said about the futures of Colbert and Stewart…

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