CBS Ends Stephen Colbert’s Late-Night Show Due to Financial Reasons

The Late Show With Stephen Colbert, the leading late-night program on US broadcast television and known for its sharp satire targeting President Donald Trump, is set to conclude its decade-long run on CBS in May 2026, as announced by the network on July 17.

The show will officially end, and Colbert will not be succeeded by another host. New episodes will continue airing until the close of the 2025 broadcast TV season.

Financial Reasons Behind the Cancellation

CBS executives stated, “This is purely a financial decision against a challenging backdrop in late night. It is not related to the show’s performance, content, or any other issues at Paramount.”

Paramount Global, CBS’s parent company, is currently seeking approval from the US Federal Communications Commission for a proposed $8.4 billion merger with Skydance Media.

Recent Controversies

Earlier this month, Paramount reached a settlement in a lawsuit filed by Trump concerning an interview with his former Democratic opponent, Kamala Harris, aired by CBS’s 60 Minutes last October.

In Thursday’s episode, Colbert revealed that he learned about his show’s cancellation the night prior. His audience reacted with dismay, prompting him to respond, “Yeah, I share your feelings.”

Colbert’s Reflection on the Show

“I’m not being replaced. This is all just going away,” the 61-year-old entertainer mentioned during the broadcast.

The Late Show made its debut in 1993 with David Letterman as host. Colbert took over the reins in 2015 after establishing himself as a regular on The Daily Show and hosting The Colbert Report on Comedy Central.

Colbert expressed his enthusiasm for the job, stating, “It is a fantastic job. I wish somebody else was getting it, and it’s a job that I’m looking forward to doing with this usual gang of idiots for another 10 months.” He also expressed gratitude to CBS executives, the audience, and the show’s dedicated crew of 200.

Political Reactions

Senator Adam Schiff, a Democrat from California, appeared as a guest on Thursday’s episode. He remarked, “If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better,” via X.

Colbert’s commentary frequently critiqued Trump, and he addressed Paramount’s settlement with the former president on his show, referring to it as a “big fat bribe.” Senator Elizabeth Warren also shared this sentiment on X, amplifying the call for transparency regarding the show’s cancellation.

Changing Dynamics in Late Night Television

Late-night programming has been facing declining audiences as viewers migrate from traditional television to streaming platforms. During the 2024-2025 season, The Late Show attracted an average of 2.5 million viewers, outperforming both Jimmy Kimmel Live and The Tonight Show Starring Jimmy Fallon.

In a joint statement, Paramount Co-CEO George Cheeks, CBS CEO, alongside CBS Entertainment President Amy Reisenbach and CBS Studios President David Stapf, acknowledged the immense talent of Colbert and his team, stating that the decision was a difficult one.

Future of Late Night

This cancellation follows CBS’s earlier decision to end another late-night program, After Midnight, which aired right after The Late Show.