Someone else will pick up his show. He's too controversial not to be on T.V.
The DNC could do an animated version of his show and post it on their website. Michael's on-air persona is a pretty good fit for the conservative boogeyman stereotype the leftoids trot out at every opportunity.
Hmmm... were I more of a tinfoil wearing type, I'd suspect Mr. Savage of being a fifth columnist. Mike does his usual schtick, feathers get ruffled, and the libs screech:
"See? SEE? What did we TELL you about those hate filled right wing wackos?"