‘Late Show' Shocker: CBS Ending Late-Night Franchise in 2026
Colbert told the show's live audience during the taping of Thursday's show at the Ed Sullivan Theatre in New York. In a statement, CBS said the cancellation was 'purely a financial decision' made in a declining linear TV landscape.
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The end of The Late Show at the end of the 2025-26 season will leave CBS without a late-night presence for the first time since 1993, when David Letterman moved from NBC to launch The Late Show. Colbert took over the show in 2015 and has been a consistent ratings leader among the network 11:35 p.m. shows for much of that time.
The announcement also comes as CBS' parent company, Paramount Global, is hoping to close a merger with Skydance in the next few months. The company recently settled a lawsuit filed last year by Donald Trump (before he was elected to a second term as president) over a 60 Minutes interview with Trump's election opponent, Kamala Harris. The settlement is widely seen as helping the merger's chances for approval by the FCC under the Trump administration — and which Colbert criticized upon his return from a hiatus earlier this week. In its statement, CBS said that wasn't a factor in the decision.
'The Late Show With Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season,' reads a statement from Paramount co-CEO and CBS president and CEO George Cheeks, CBS Entertainment head Amy Reisenbach and CBS Studios president David Stapf. 'We consider Stephen Colbert irreplaceable and will retire The Late Show franchise at that time. 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.
'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.
'Our admiration, affection, and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult. 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 No. 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. 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.'
For his part, Colbert told the audience Thursday that he was informed of the decision to end The Late Show on Wednesday night, drawing boos from the crowd. 'Yeah, I share your feelings,' he said. '… This is all just going away. I do want to say that the folks at CBS have been great partners. I'm so grateful to the Tiffany Network for giving me this chair and this beautiful theater to call home. And of course, I'm grateful to you, the audience who have joined us.… And I am extraordinarily, deeply grateful to the 200 people who work here.' Watch Colbert's full announcement below.
As for the rest of the network late-night landscape, ABC's Jimmy Kimmel Live! will begin the final season of its current three-year deal in the fall. NBC late-night hosts Jimmy Fallon and Seth Meyers signed deals last year to continue hosting The Tonight Show and Late Night through 2028. (Kimmel and others reacted to the news.)
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