In a stunning announcement that has sent shockwaves through the entertainment industry, CBS revealed that The Late Show with Stephen Colbert will conclude its historic run in May 2026, at the end of the broadcast season. The decision, described as “purely financial” by network executives, marks the end of a late-night franchise that has been a cornerstone of American television since 1993. CBS also confirmed that the Late Show brand will be retired, with no plans to replace Colbert or continue the series.
“We consider Stephen Colbert irreplaceable and will retire The Late Show franchise at that time,” said George Cheeks, Co-CEO of Paramount Global and President and CEO of CBS, alongside Amy Reisenbach, President of CBS Entertainment, and David Stapf, President of CBS Studios, in a joint statement. “We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late-night television.”
Colbert, who broke the news during a taping of the show on Thursday, July 17, 2025, expressed gratitude to CBS for the opportunity to helm the iconic program. “I’m not being replaced, this is all just going away,” he quipped, addressing the audience with his signature wit. “I’m deeply thankful to CBS for giving me the chair and to the fans who’ve made this journey unforgettable.”
The decision comes amid a challenging landscape for late-night television, which has faced declining viewership and financial pressures in recent years. CBS emphasized that the move was not related to the show’s performance or content, nor to broader changes at Paramount, such as the ongoing acquisition of the company by Skydance Media.
The Late Show began in August 1993 with David Letterman, who brought his sharp humor to CBS after being passed over for The Tonight Show at NBC. Letterman hosted until his retirement in May 2015, when Colbert, a veteran of The Daily Show and The Colbert Report on Comedy Central, took over in September 2015. Under Colbert’s stewardship, the show maintained its reputation for incisive political commentary and innovative comedy, navigating a competitive late-night field alongside hosts like Jimmy Fallon, Jimmy Kimmel, and Jon Stewart.
The announcement coincides with the expiration of Colbert’s contract in 2026, prompting questions about his next move. With Jon Stewart recently signing on to continue hosting The Daily Show on Paramount’s Comedy Central through 2025, some speculate that Colbert could return to his roots at the storied satire program. Stewart himself commented on the news, joking about the possibility of Skydance shaking up Paramount’s late-night slate but expressing confidence in the enduring value of sharp, truth-telling comedy.
The end of The Late Show is another blow to late-night television, which has struggled to adapt to changing viewer habits in the streaming era. CBS recently canceled After Midnight, the successor to The Late Late Show with James Corden, opting not to replace host Taylor Tomlinson. The broader industry trend suggests a contraction in traditional late-night programming, with networks reevaluating costs against a fragmented media landscape.
As fans and industry insiders process the news, tributes to Colbert’s tenure are pouring in. His blend of intellectual humor, musical performances, and fearless political commentary has left an indelible mark on late-night television. While the future remains uncertain for Colbert and the Late Show legacy, one thing is clear: the end of this era will be felt deeply by viewers who turned to the Ed Sullivan Theater for laughter and insight night after night.
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