Stephen Colbert takes final jab at CBS during emotional 'Late Show' farewell

Stephen Colbert ends 'Late Show' with emotional farewell and final digs at CBS cancellation

Stephen Colbert ended The Late Show with Stephen Colbert with emotional tributes, celebrity cameos, and several pointed jokes aimed at CBS following the show’s cancellation.

The finale featured a performance of The Beatles’ “Hello, Goodbye” by Paul McCartney, who later joined Colbert backstage to theatrically “pull the plug” on the Ed Sullivan Theater by flipping a lever labelled “Late Show”, a moment widely seen as a tongue-in-cheek jab at CBS ending the franchise.

Colbert also took a more direct swipe at the network during a segment discussing lawsuits involving the use of music from the Peanuts franchise. After warning that anyone using the music illegally would “have to pay through the nose,” Colbert suddenly realised his own band was playing the same tune live on air.

“Oh no, I hope this doesn’t cost CBS any money,” he joked, prompting loud laughter from the audience.

LOL Stephen Colbert is making his band play licensed music during his final show so CBS – who fired him – will get sued and have to pay millions

"Anyone illegally using that music is gonna have to pay through the nose--"

[band starts playing]

"Oh no! I hope this doesn't cost… pic.twitter.com/mOeZMXEZpv

— Spencer Althouse (@SpencerAlthouse) May 22, 2026

The final episode included appearances from fellow late-night hosts Jimmy Kimmel, Jimmy Fallon, Seth Meyers, John Oliver, and longtime collaborator Jon Stewart, who earlier mocked CBS for cancelling the long-running programme.

CBS announced in 2025 that it would end The Late Show franchise, describing the move as a financial decision. The cancellation sparked backlash from viewers and industry figures, especially after Colbert publicly criticised Paramount over its reported settlement involving Donald Trump and a disputed 60 Minutes interview.