Stephen Colbert appeared saddened but reassuring Thursday night while sharing the news that CBS is canceling “The Late Show,” with its final episode scheduled to air in May 2026.
Telling the live studio audience that he learned “just last night” of the news, the late night host lamented that “this is all just going away” — but looked ahead to 10 more months working with his crew to keep making the best show they can.
“It’s going to be fun,” he said.
Watch the full announcement in the video below:
The cancellation, cited by CBS as a “financial decision,” came just days after the late night host derided his parent company’s $16 million settlement with President Donald Trump. In his return to the series after a summer break — during which time Paramount settled its baseless “60 Minutes” lawsuit with the president — Colbert called the deal a “big fat bribe” meant to clear the way for Trump’s FCC to approve the corporation’s pending Skydance merger.
The fiery monologue had TheWrap’s Brian Lowry positing Tuesday that Colbert’s late night program could be one of several on the chopping block once the merger goes through.
“Before we start the show, I want to let you know something that I found out just last night,” Colbert began Thursday. “Next year will be our last season. The network will be ending the late show in May.”
The news was met with rousing boos of dissent from his audience, to which the host smiled and said, “Yeah, I share your feelings.” He added that he’s not getting replaced on the show, but CBS is canceling the late night program, which premiered with host David Letterman in 1993, in its entirety.
“I’m not being replaced. This is all just going away,” Colbert said. “And I do want to say that the folks at CBS have been great partners. I’m so grateful to the Tiffany Network for giving me this chair and this beautiful theater to call home. And of course I’m grateful to you, the audience, who have joined us every night in here out there all around the world.”
Colbert then shouted out his band and his team of 200 staffers, all of whom he said he’s “deeply grateful” for.
“We get to do this show for each other every day all day, and I’ve had the pleasure and the responsibility of sharing what we do every day with you in front of this camera for the last 10 years,” he continued. “And let me tell you, it is a fantastic job. I wish somebody else was getting it.”
The host then looked ahead: “And it’s a job that I’m looking forward to doing with this usual gang of idiots for another 10 months. It’s going to be fun. Y’all ready? Y’all ready? Y’all ready? OK. That’s all I wanted to say.”
In a statement to media Thursday announcing the program’s cancellation, George Cheeks (president and CEO, CBS Entertainment Group), Amy Reisenbach (president, CBS Entertainment) and David Stapf, (president CBS Studios) said that the move is “purely a financial decision against a challenging backdrop in late night” and “is not related in any way to the show’s performance, content or other matters happening at Paramount.”
“Our admiration, affection and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult,” the statement from Cheeks, Reisenbach and Stapf continued. “Stephen has taken CBS late night by storm with cutting-edge comedy, a must-watch monologue and interviews with leaders in entertainment, politics, news and newsmakers across all areas. The show has been #1 in late night for nine straight seasons; Stephen’s comedy resonates daily across digital and social media; and the broadcast is a staple of the nation’s zeitgeist.”
