CBS dropped a massive bombshell by announcing the end of The Late Show With Stephen Colbert, with the final episode scheduled to air in May 2026. This jaw-dropping development represents a significant upheaval in network television and signals CBS’s complete withdrawal from the traditional late-night talk show format.
CBS claims the decision is “purely financial” (which is such a load of crap), pointing to a challenging late-night market and plummeting ad revenue that’s made the show unprofitable. What’s particularly mind-blowing about this announcement is that The Late Show has been absolutely crushing it in the ratings, consistently dominating its time slot among all late-night programming.
In a heart-wrenching moment, Colbert revealed the shocking news to a stunned studio audience during a taping, sharing that he’d learned about the cancellation just the night before. The crowd’s reaction was immediate and visceral — audible boos filled the room — as Colbert thanked CBS and viewers before making the devastating clarification: “I’m not being replaced. This is all just going away.”
The timing of this bombshell has set off alarm bells across media and political circles. It comes mere weeks after CBS’s parent company, Paramount, reached a $16 million settlement in a lawsuit involving former President Donald Trump. Colbert, who has never shied away from Trump commentary, addressed the settlement on air, calling it a “big fat bribe.” Given the timing, several observers — including Senators Adam Schiff and Elizabeth Warren — have raised serious concerns about potential external pressure influencing the network’s decision.
Senator Schiff stated via X, “If Paramount and CBS ended The Late Show for political reasons, the public deserves to know. And deserves better.”
CBS maintains that the cancellation was purely financial, citing escalating production costs and declining ad revenue.
Adding another layer of intrigue is Paramount’s pending merger with Skydance Media. Skydance CEO David Ellison has reportedly shown interest in the politics of former President Trump, sparking concerns about how new leadership might handle sharp political commentary from Colbert and others.
For CBS, this marks the end of an incredible era. The Late Show franchise, which began with David Letterman in 1993 and continued with Colbert’s takeover in 2015, has been a cornerstone of late-night television. Under Colbert’s stewardship, the show consistently topped late-night ratings. However, even this remarkable success couldn’t overcome the mounting production costs and shifting viewer habits in a media landscape increasingly focused on budget and digital-first strategy.
In another shocking development, CBS had already started dismantling its late-night presence by axing The Late Late Show with James Corden in 2023, replacing it with the budget-friendly After Midnight, which, incredibly, also met its end earlier this year.
With Colbert’s mind-blowing exit, we’re not just witnessing the end of a show — it’s the death of an entire era! And CBS’s complete withdrawal? It’s an absolutely stunning sign that traditional network late-night TV is crumbling faster than anyone could have imagined.
Watch Stephen Colbert announce The Late Show’s cancellation news
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