Screenshot/YouTube/The Late Show With Stephen Colbert

After two decades, Fox News is changing its most famous catchphrase. Yes, "Fox News is dropping its 'Fair & Balanced' slogan," Stephen Colbert said on Thursday's Late Show. "I assume because they finally watched themselves." One Fox News insider told New York that the slogan was being dropped because it was so widely "mocked," and Colbert took a short bow.

"For now, Fox News will be using its other slogan, 'Most Watched, Most Trusted,' but there are some other phrases that they briefly considered," he said: "'CNN For Your Angry Uncle,' 'Thanks For Watching, Mr. President!', and perhaps the most controversial rejected slogan of all, 'You'd Be Pretty if You Smiled More.'" Colbert also talked about dinosaurs and the newly relaxed urination laws in New York City. Watch below. Peter Weber