CBS is ending The Late Show with Stephen Colbert and retiring its entire “Late Night” franchise in May 2026

Paramount and CBS executives said in a statement that the cancellation is “purely a financial decision against a challenging backdrop in late night” and is not related to the show’s performance, content, or any other issues at Paramount.

The announcement came two days after Colbert criticized CBS Global for settling with President Donald Trump over a 60 Minutes story.

The big picture:
The Late Show, which Colbert has hosted for nearly a decade and which has been on the air for 32 years, will end in May 2026. CBS emphasized it was a financial decision and had nothing to do with the show’s ratings or controversies.

At Thursday’s taping, Colbert said he had learned of the cancellation only the day before. When the studio audience booed the news, he responded, “Yeah, I share your feelings.”

CBS praised Colbert and his team, saying their respect and admiration made “this agonizing decision even more difficult.” The network called Colbert “irreplaceable” and noted the show has been No. 1 in late-night television for nine consecutive seasons, adding that his comedy has become a staple of American culture.

The full CBS statement read:

“The Late Show with Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season. We consider Stephen Colbert irreplaceable and will retire The Late Show franchise at that time. We are proud that Stephen called CBS home. He and the broadcast will be remembered among the greats of late-night television.

This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content, or other matters happening at Paramount.

Our admiration, affection, and respect for Stephen Colbert and his incredible team made this agonizing decision even more difficult. Stephen has taken CBS late night by storm with cutting-edge comedy, must-watch monologues, and interviews with leaders in entertainment, politics, and news. The show has been No. 1 in late night for nine straight seasons. Stephen’s comedy resonates daily across digital and social media, and the broadcast is a staple of the nation’s zeitgeist.

The accomplishments of The Late Show with Stephen Colbert are memorable and significant in performance, quality, and stature. With much gratitude, we look forward to honoring Stephen and celebrating the show over the next 10 months alongside its millions of fans and viewers.”