CBS has cancelled The Late Show With Stephen ColbertOpens in a new tab. It’s not replacing him as host, either. The long running series, which began with David Letterman in 1993, will end for good in May 2026. The network said this a “financial decision,” despite the show frequently finishing first in late night showsOpens in a new tab. Coincidentally, this “financial decision” came just days after Stephen Colbert skewered CBS’ parent company Paramount Global for what he called a “big fat bribe” to President Donald Trump.
The Late Show is done. In a statement we first saw at VarietyOpens in a new tab, CBS provided a statement citing the official reason for ending the show permanently.
We consider Stephen Colbert irreplaceable and will retire The Late Show franchise in May of 2026. 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.
Colbert also addressed the cancellation with his audience.