But Bannon's potential departure is the far juicier story here, as he and Jared Kushner, Trump's son-in-law, tussle for control of the president's agenda. The odds are that both Bannon and Priebus are on their way out.
Many Trump loyalists have long advocated for Trump to fire Priebus, who they believe was insufficiently loyal over the course of the campaign.
Colbert also took some time to talk about the apparent friction between Bannon and President Trump's son in law, Jared Kushner.
The Trump administration has been mulling who could potentially replace Chief of Staff Reince Priebus, including House Majority Leader Kevin McCarthy (R-Calif.), according to a report. He even told Bannon-hilariously, given his own huge set of responsibilities-that he was getting booted off the National Security Council because he was overstretched.
The New York Times reported that despite his efforts to play it cool with the media, Bannon resisted his removal from the NSC and at one point threatened to quit over it. Axios reported, however, that Bannon had been telling associates that such stories were "100% nonsense".
It's a good thing Bannon loves "a gunfight" - sounds like he's got one coming. But, in the midst of a probe into the Trump team's possible ties to Russia, Mr Kushner reportedly failed to disclose his meetings with two powerful Russian officials. Nearly three months later, Kushner is still preparing that information and has made a decision to share it with the F.B.I. when he speaks to investigators working on untangling the matted, greasy ball of yarn that is the question of Russian involvement in the election. He actually said 'cuck, ' as in "cuckservative, '" the administration official told The Daily Beast.
The axe may fall soon on Steve Bannon and Reince Priebus. Increasingly, that means reveling in secondhand reports about the utter disarray of his administration, whether it's the news that his wife might hate him or the utter ineptitude of his cronies like Sean Spicer. Trump became unhappy with disagreements among his top aides, the outlet added.
Rival factions have emerged, pitting those aides who consider themselves the nationalists - including Bannon and the controversial policy adviser Stephen Miller - against a more global-minded wing, led by Kushner, Cohn and deputy national security adviser Dina Powell, according to two sources familiar with the situation.
Just yesterday, Axios published a piece quoting "close Bannon ally" who said the former Breitbart News editor planned to push back against Kushner.