CBS has reached a settlement with the owner of iconic “Peanuts” music, about a month after former late-night host Stephen Colbert taunted the network with a gag about getting sued – saying “I hope this doesn’t cost CBS any money!”

Lee Mendelson Film Productions, Inc., which owns the music catalog of late jazz artist Vince Guaraldi, announced Tuesday that it has struck an agreement with CBS for the use of the “Peanuts” song “Linus and Lucy” in the May 21 finale of “The Late Show with Stephen Colbert.”

The group said proceeds from the CBS agreement will be donated to World Central Kitchen, a nonprofit that provides meals after humanitarian and climate crises – after “The Late Show” presented the same nonprofit with a $2.5 million donation during its last week on-air.

“LMFP found the music’s use on ‘The Late Show’ funny and entertaining, and is proud to support World Central Kitchen’s mission,” LMFP Chairman Jason Mendelson said in a statement. 

“A principal goal of our enforcement actions is to educate individuals, businesses, and government entities about the need to obtain written license agreements to use music in a commercial setting.”

The group did not specify the size of the settlement.

CBS did not immediately respond to The Post’s request for comment.

During the show’s finale, Colbert joked about LMFP’s recent slew of copyright lawsuits – including one against the US government.

“‘Peanuts’ is a powerful brand and corporation in and of itself. Anyone illegally using that music is going to have to pay through the nose,” Colbert said – as “The Late Show” band started to play the “Linus and Lucy” song.

Feigning shock, Colbert turned back toward the band and its leader, Louis Cato.

“Louis, Louis! Is the band right now playing the same ‘Peanuts’ music I just said people were being sued for, for using without permission? Is that what you’re doing?” Colbert asked.

After Cato confirmed the song, Colbert exclaimed: “Oh no, I hope this doesn’t cost CBS any money!”

CBS announced it was cancelling “The Late Show” in July 2025, calling it “purely a financial decision.”

But the network faced heated backlash over the move, which came just a few days after Colbert criticized CBS owner Paramount for its $16 million settlement with President Trump as it sought approval for its merger with Skydance Media. The deal was later approved, and Paramount Skydance is currently trying to finalize its acquisition of Warner Bros. Discovery.

“The Late Show” ran for more than 30 years, starting with host David Letterman.

Colbert took over the late-night desk when Letterman left in 2015.