In a surprising announcement that marks the end of an era, CBS revealed on Thursday, July 17, 2025, that it will cancel "The Late Show with Stephen Colbert," with the final episode airing in May 2026. This decision not only ends the decade-long run of Colbert's tenure but also retires the entire "Late Show" franchise after a remarkable 33-year history, a staple of late-night television since David Letterman first took the helm in 1993.
Stephen Colbert, 61, broke the news to his live audience at New York's Ed Sullivan Theater during the taping of Thursday's show, revealing that he was informed of the cancellation just the night before. The crowd responded with loud boos and cries of "No!" to which Colbert empathized, saying, "Yeah, I share your feelings." He solemnly added, "It’s not just the end of our show, but it’s the end of 'The Late Show' on CBS. I’m not being replaced. This is all just going away." The host expressed heartfelt gratitude to the 200 staff members who bring the show to life and to the viewers who have supported the program for years. "Let me tell you, it is a fantastic job," he said. "I wish somebody else was getting it. And it is a job I am looking forward to doing with this usual gang of idiots for another 10 months."
CBS executives described the decision as "purely a financial decision against a challenging backdrop in late night," emphasizing that it was not related to the show's performance, content, or any other matters at Paramount Global, CBS's parent company. A joint statement from George Cheeks, co-CEO of Paramount Global and president and CEO of CBS, Amy Reisenbach, president of CBS Entertainment, and David Stapf, president of CBS Studios, praised Colbert as "irreplaceable" and acknowledged that the show had been the number one late-night program for nine consecutive seasons. They expressed pride that Colbert called CBS home and said the show would be remembered among the greats of late-night television.
However, the timing of the cancellation has sparked widespread speculation and criticism, particularly from Democratic lawmakers and media observers. The announcement came only three days after Colbert publicly criticized Paramount's decision to settle a lawsuit with former President Donald Trump for $16 million. The lawsuit stemmed from Trump's claim that CBS News deceptively edited a 2024 "60 Minutes" interview with then-presidential candidate Kamala Harris to make her appear more competent. Paramount agreed to the settlement despite previously labeling the lawsuit "completely without merit," a contradiction that Colbert highlighted on his July 14 monologue, calling the payout a "big fat bribe." He remarked, "I don’t know if anything — anything — will repair my trust in this company. But, just taking a stab at it, I’d say $16 million would help." Colbert also noted that Paramount's owners were seeking approval from the Trump administration for an $8.4 billion merger with Skydance Media, suggesting the settlement was a strategic move to facilitate the deal.
President Trump seized on the cancellation, posting on his social media platform Truth Social that he "absolutely loves" the decision, while disparaging Colbert and other late-night hosts. "His talent was even less than his ratings," Trump wrote, adding, "I hear Jimmy Kimmel is next."
Democratic lawmakers swiftly voiced concerns about the implications of the cancellation. Senator Elizabeth Warren of Massachusetts, who has been investigating the settlement as a potential bribery case linked to the Skydance merger approval, tweeted, "CBS canceled Colbert’s show just THREE DAYS after Colbert called out CBS parent company Paramount for its $16M settlement with Trump — a deal that looks like bribery. America deserves to know if his show was canceled for political reasons." Senator Adam Schiff of California, who appeared as a guest on the July 17 episode, echoed this sentiment, stating on social media, "If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better." Representative Pramila Jayapal of Washington also criticized the move as a potential attack on free speech, saying, "People deserve to know if this is a politically motivated attack." Former Republican Congressman and Trump critic Adam Kinzinger urged followers to cancel their Paramount Plus subscriptions in protest.
Fellow late-night host Jimmy Kimmel took to Instagram to express solidarity with Colbert, posting "Love you Stephen" alongside a profanity directed at CBS executives. Jimmy Fallon, another late-night stalwart, expressed shock at the news, calling Colbert "one of the sharpest, funniest hosts to ever do it," and lamenting the loss to the late-night landscape.
The economic challenges facing late-night television are well-documented. Ratings and advertising revenue have been declining as younger audiences migrate toward digital platforms and on-demand content. CBS has already curtailed late-night programming by canceling "After Midnight," a companion show hosted by comedian Taylor Tomlinson, who opted to focus on her stand-up career despite CBS's interest in continuing the program. Other networks have similarly adjusted their late-night offerings, with NBC cutting back on the number of weekly episodes and eliminating live bands to reduce costs.
Despite these pressures, Colbert's "Late Show" has maintained strong ratings, often leading its time slot with an average of approximately 2.4 million viewers across 41 new episodes in 2025. The show also recently earned its sixth Emmy nomination for Outstanding Talk Show and won a Peabody Award in 2021, underscoring its critical acclaim and cultural relevance.
Colbert's tenure on "The Late Show" began in September 2015, succeeding David Letterman, who hosted the program for 22 years. Transitioning from his satirical persona on Comedy Central’s "The Colbert Report," Colbert found his authentic voice during the 2016 presidential election, when he embraced pointed political humor that resonated with viewers. Over the years, he became known for his sharp critiques of political figures, particularly Donald Trump, blending comedy with incisive commentary.
As CBS prepares to retire the "Late Show" franchise, the network plans to fill the 12:30 a.m. time slot with reruns of a syndicated comedy roundtable produced by media entrepreneur Byron Allen. The decision leaves many wondering about the future of late-night programming on CBS and how the network will navigate the evolving media landscape.
For now, fans of Stephen Colbert and his team can look forward to another 10 months of the show, during which Colbert promises to continue delivering his unique blend of humor and insight. "It is a fantastic job," he said. "I wish somebody else was getting it." As the curtain falls on a beloved late-night institution, the industry and viewers alike will watch closely to see what comes next.
