CBS to cancel ‘The Late Show With Stephen Colbert’ due to financial concerns

CBS will cancel The Late Show With Stephen Colbert in May 2026, citing financial strain, not show performance.

CBS has announced it will cancel The Late Show With Stephen Colbert at the end of the upcoming television season, marking the end of an era in late-night television.

The network cited a “financial decision” as the reason for ending the long-running program, not due to any issues with ratings or show content.

The show, hosted by Stephen Colbert since 2015, will officially wrap up in May 2026. Colbert took over the slot following David Letterman, who brought The Late Show to CBS in 1993 after leaving NBC. CBS stated in its announcement, “We consider Stephen Colbert irreplaceable and will retire The Late Show franchise. He and the broadcast will be remembered in the pantheon of greats that graced late night television.”

Sources say Colbert was informed of the decision Wednesday evening and addressed the news during the Thursday taping of his show. The move reflects broader changes in the economics of late-night programming, as younger audiences increasingly shift to streaming platforms, causing networks to rethink the cost-benefit of traditional late-night formats.

Industry speculation has also surrounded the role of Skydance Media, which is in the process of acquiring Paramount Global, CBS’s parent company. Some believe the media shake-up could be influencing programming choices, especially considering Colbert’s frequent criticism of political figures like Donald Trump.

The network insists the cancellation is unrelated to Colbert’s political commentary or performance, emphasizing that the choice was “purely financial.”

The end of The Late Show With Stephen Colbert signals a major shift in late-night programming as media companies navigate an evolving digital landscape.

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