Stephen Colbert revealed Thursday night that his reign at The Late Show will conclude in 2026, as CBS shuts down the long-running program amid broader financial constraints across late-night television, but of course, Donald Trump is somehow involved.
“I want to let you know something I found out just last night. Next year will be our last season. The network will be ending The Late Show in May,” Colbert told the stunned studio audience, who responded with a chorus of groans. “Yeah! I share your feelings. It’s not just the end of our show. It’s the end of The Late Show on CBS. I’m not being replaced. This is all just going away. I do want to say that the folks at CBS have been great partners.”
CBS confirmed the program’s conclusion was strictly a cost-driven decision. Executives stated that the issue was unrelated to viewership, content, or the company’s legal disputes.
“It’s purely a financial decision against a challenging backdrop in late-night,” the statement said. The network added, “We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late-night television.”
Colbert stepped into The Late Show chair in September 2015, succeeding David Letterman, who held the role for over two decades.
Before that, Colbert hosted The Colbert Report on Comedy Central for nearly a decade, satirizing politics and media sharply since 2005. During his emotional announcement, Colbert offered gratitude to his team and supporters who’ve been part of the journey.
“I’m so grateful to the Tiffany Network for giving me this chair and this beautiful theatre to call home. And, of course, I’m grateful to you, the audience, who have joined us every night. I’ve had the pleasure and the responsibility of sharing what we do every day with you in front of this camera for the last 10 years,” he said. “It is a fantastic job. I wish somebody else was getting it. It’s a job that I’m looking forward to doing with this usual gang of idiots for another 10 months.”
CBS’s announcement coincides with a turbulent era for its parent company, Paramount, which has settled a $16 million lawsuit brought by Donald Trump over an allegedly altered interview involving Vice President Kamala Harris on 60 Minutes.
While Paramount’s producers denied all wrongdoing, Colbert openly criticized the company leadership over the payout to Donald Trump.
The news also comes as Paramount advances a major $8.4 billion merger with Skydance Media, pending approval from the Federal Communications Commission, signaling a wider industry transformation with direct implications for network programming.
The final episode of The Late Show with Stephen Colbert is set to air in May 2026.
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