It’s the end of the road for “The Late Show With Stephen Colbert.”
The most-watched late night show will come to an end in May 2026, Colbert announced Thursday during the show’s taping at the Ed Sullivan Theater. While breaking the news, Colbert said he found out about the news the night before. After a loud wave of boos from the crowd, he told the audience he shared their feelings.
The move has been cited by CBS as “purely a financial decision against a challenging backdrop in late night” by the network’s executive leadership. Paramount Global Co-CEO George Cheeks, CBS president Amy Reisenbach and CBS Studios presidnt David Stapf said in a joint statement that the decision to cancel the long-running series “is not related in any way to the show’s performance, content or other matters happening at Paramount.” They added that Colbert is “irreplaceable,” factoring into the decision to “retire ‘The Late Show’ franchise at that time.”
But the cancellation comes just days after the late night host derided Paramount’s $16 million settlement with President Donald Trump. Colbert called the deal a “big fat bribe” to ensure the Trump administration’s FCC approves Paramount’s upcoming merger with Skydance Media.
Colbert wasn’t the only late night host of a Paramount-owned series to speak out against the settlement. “The Daily Show” host Jon Stewart joked, “I’m obviously not a lawyer, but I did watch ‘Goodfellas.’ That sounds illegal.” Their comments led to speculation that the shows could get canceled after the Paramount-Skydance merger is approved, though the possibility didn’t seem to concern Stewart too much.
That said, late night TV has faced hardships across the board due to declining ratings. Earlier this year, CBS scrapped plans for its planned third season of “After Midnight” after host Taylor Tomlinson exited to focus on stand-up and touring. CBS chose to cancel “After Midnight” altogether, but Tomlinson said she “really wanted CBS to replace [her].”
“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.”
“The accomplishments of ‘The Late Show With Stephen Colbert’ are memorable and significant in performance, quality and stature,” the statement concludes. “With much gratitude, we look forward to honoring Stephen and celebrating the show over the next 10 months alongside its millions of fans and viewers.”
