CBS cancels Stephen Colbert’s late-night show

CBS will take “The Late Show with Stephen Colbert” off the air in May 2026, Stephen Colbert announced on Thursday night. The Late Show franchise was also retiring for good, Colbert said at the opening of his show. The audience responded with yelled no’s and boos. Colbert said he shared their feelings. The host thanked the network, his audience, and the show’s 200 employees for their years together.

What’s the reason for the cancellation? CBS made the decision purely for financial reasons during a challenging time for late-night television, the network’s news arm said on Friday, referencing a previous statement. The show’s ending wasn’t related to its performance, content, or anything else happening at its parent company, Paramount Global said. The Late Show had held the top spot in late-night TV for nine seasons, CBS said.

However, the Writer’s Guild of America, which represents some writers on the show, said in a Friday statement that it was concerned about possible political motivations for the cancellation. The guild pointed out that Colbert on Tuesday criticized Paramount’s decision to settle a lawsuit with President Donald Trump for $16 million. Colbert said on air that the settlement was a bribe to gain federal approval for a planned Paramount merger with Skydance Media. The Writer’s Guild shared Colbert’s concerns, it said.

Dig deeper: Read my report on the $16 million settlement between Paramount and Trump.