CBS To Cancel Stephen Colbert Show
CBS announced Thursday that The Late Show with Stephen Colbert will conclude in May 2026, bringing an end to the long-running late-night franchise first launched by David Letterman in 1993. The network emphasized that the decision was “purely financial,” and that it has no plans to continue the program with a new host following Colbert’s departure.
“We consider Stephen Colbert irreplaceable and will retire The Late Show franchise at that time,” CBS said in an official statement. “It is not related in any way to the show’s performance, content or other matters happening at Paramount.”
Colbert confirmed the announcement at the top of Thursday’s show. “I’m not being replaced. This is all just going away,” he told his audience.
Just finished taping with Stephen Colbert who announced his show was cancelled.
If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.
— Adam Schiff (@SenAdamSchiff) July 17, 2025
While CBS cited industry-wide economic pressures as the catalyst, speculation over the real reasons has already begun to mount. Senator Adam Schiff (D-Calif.), who was a guest on the show Thursday, suggested that Colbert’s outspoken political commentary may have played a role.
“If Paramount and CBS ended The Late Show for political reasons, the public deserves to know. And deserves better,” Schiff posted on X.
CBS’s statement praised Colbert for maintaining the number one spot in late-night for nine consecutive seasons and credited his digital reach and cultural impact. Still, the move marks a sharp turning point in the broader decline of late-night television, which has seen ratings slide across the board in recent years as audiences migrate to streaming platforms and shorter-form content.
Despite CBS’s accolades, The Late Show has not been immune to the shifting media landscape. Though once a ratings powerhouse in the Trump era, Colbert’s program has seen viewership contract significantly. In 2025, Fox News’ Gutfeld! eclipsed its late-night competitors to become the top-rated program in the time slot, outperforming traditional broadcast hosts like Colbert, Jimmy Fallon, and Jimmy Kimmel.
The timing of the announcement also coincides with mounting pressure on CBS parent company Paramount Global, which is undergoing a major restructuring ahead of its planned merger with Skydance Media. The company has already taken steps to reduce costs and reevaluate legacy programming, making even long-standing franchises vulnerable.