CBS announced Thursday, July 18, that “The Late Show with Stephen Colbert” will conclude its run in May 2026, bringing an end to the network’s 33-year late-night franchise. The decision represents a significant shift in the television landscape, as CBS will become the first major broadcast network without a late-night talk show since 1993.
Colbert broke the news to his studio audience during Thursday’s taping at the Ed Sullivan Theater in New York City, revealing that he had learned of the cancellation just the night before. The audience responded with audible boos and expressions of dismay. Colbert acknowledged their reaction, stating that he shared their feelings about the unexpected announcement.
The host clarified that he would not be replaced and that the entire Late Show franchise would end with his departure. He expressed gratitude to CBS executives, calling them great partners, and thanked the show’s 200-person staff, the house band, and viewers who had supported the program throughout his nearly 10-year tenure.
Network executives issued a joint statement explaining their decision. George Cheeks, co-CEO of Paramount Global and president and CEO of CBS, along with Amy Reisenbach, president of CBS Entertainment, and David Stapf, president of CBS Studios, described the cancellation as “purely a financial decision against a challenging backdrop in late night.” They emphasized that the decision was unrelated to the show’s performance, content, or other matters involving Paramount.
The executives praised Colbert as irreplaceable and announced their intention to retire The Late Show franchise entirely. They noted that both Colbert and the broadcast would be remembered among the pantheon of greats in late-night television history.
Colbert assumed hosting duties in September 2015, succeeding David Letterman, who had helmed the program for 22 years from 1993 to 2015. Before joining CBS, Colbert gained prominence as a correspondent and later host of “The Colbert Report” on Comedy Central, where he developed his satirical approach to political commentary.
The timing of the announcement has raised questions among political observers. The cancellation comes just days after Colbert criticized Paramount’s $16 million settlement with President Donald Trump over a lawsuit related to a “60 Minutes” interview with former Vice President Kamala Harris. In his Monday monologue, Colbert called the settlement “a big fat bribe.”
Senator Adam Schiff, who appeared as a guest on Thursday’s show, immediately questioned the timing of the announcement on social media. He suggested that if the cancellation was motivated by political reasons, the public deserved to know and deserved better treatment. Similarly, Senator Elizabeth Warren, who has called for investigations into Paramount’s relationship with the Trump administration, expressed concerns about potential political motivations.
The cancellation occurs amid Paramount Global’s pending merger with Skydance Media, an $8.4 billion deal that requires approval from the Federal Communications Commission. The merger negotiations have been complicated by various regulatory considerations, including the recent Trump lawsuit settlement.
Recent ratings data from Nielsen show that Colbert’s program has been performing well, gaining viewers and winning its time slot among broadcast networks with approximately 2.417 million viewers across 41 new episodes. The show has maintained its position as the top-rated late-night program for nine consecutive seasons.
The program recently received its sixth Emmy nomination for outstanding talk series, competing alongside “The Daily Show” and “Jimmy Kimmel Live!” The recognition came just two days before the cancellation announcement, highlighting the show’s continued critical acclaim.
With CBS exiting the late-night space, competing networks ABC and NBC will continue their programming. Jimmy Kimmel Live! will continue on ABC, while NBC has secured contracts with Jimmy Fallon and Seth Meyers through 2028 for “The Tonight Show” and “Late Night,” respectively.
The decision reflects broader challenges facing traditional late-night television, including increased competition from streaming platforms and podcasts, rising production costs, and shifting viewer habits among younger demographics. Networks across the industry have struggled to maintain profitability in the late-night format as audiences fragment across multiple platforms.
Colbert concluded his announcement by describing his role as a fantastic job and expressing his intention to continue with his team for the remaining 10 months. The Late Show franchise, which began in 1993 as CBS’s answer to NBC’s dominance in late-night television, will end its historic run following the May 2026 broadcast season.
