Watch from 3:45-6
at 5:30 Colbert reads a letter from his "parent company who won't be viacomed" which says:
At this point, Stephen has used enough of Viacom's resources in promoting the as-yet-unformed PAC... that the FEC would likely see an in-kind donation from Viacom in the event the PAC is ever actually formed. That means you can't form it."
This was a great example of some of our conversations in class about the inabilities of the mainstream media to go against their parent companies but what comedy can do in its wake.