LOS ANGELES, July 17. CBS has announced that The Late Show with Stephen Colbert will come to an end in May 2026, marking the close of a decade-long era in late-night television. The decision, which the network says is driven solely by financial constraints, means Colbert will not be replaced, and the show will not continue with a new host.
CBS emphasized in a statement that the cancellation is unrelated to the show’s performance or content. This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content, or other matters happening at Paramount, executives said.
The show’s end comes amid a wider transformation in the media landscape. Traditional late-night programs have struggled to retain viewership as audiences increasingly turn to streaming platforms. Despite these shifts, The Late Show remained the most-watched late-night program in the 2024–2025 season, averaging 2.5 million viewers outpacing Jimmy Kimmel Live and The Tonight Show Starring Jimmy Fallon.
Colbert, known for his sharp political satire and commentary especially toward former President Donald Trump, shared the news with his audience on Thursday night. I’m not being replaced. This is all just going away, he said, to boos from the crowd. The 61-year-old comedian has been a vocal critic of both Trump and, recently, Paramount itself. On a recent episode, he described Paramount’s legal settlement with Trump as a “big fat bribe.”
CBS’s parent company, Paramount Global, is currently pursuing an $8.4 billion merger with Skydance Media, pending FCC approval. The network has also been trimming its late-night slate, having canceled After Midnight in March.
Colbert took over The Late Show in 2015, succeeding David Letterman. Prior to that, he was a prominent figure on The Daily Show and hosted The Colbert Report on Comedy Central.
As the late-night landscape continues to shift, CBS’s decision raises questions about the future of the genre and whether politics played a deeper role in this latest move.
