CBS announced on July 17, 2025, that "The Late Show with Stephen Colbert" will end in May 2026, concluding a 33-year run for the franchise that began with David Letterman in 1993.
The network cited financial pressures in the late-night TV market as the reason, with CBS President George Cheeks stating it was "purely a financial decision" and not related to the show's performance or content.
Colbert, who took over as host in 2015, announced the cancellation during a Thursday taping, expressing gratitude to CBS, his crew, and the audience.
Despite CBS's claim, the timing has raised speculation due to Colbert's recent criticism of Paramount's $16 million settlement with President Trump over a "60 Minutes" lawsuit, with some, including Senators Adam Schiff and Elizabeth Warren, questioning if political motives played a role. The show, the top-rated late-night program with 2.417 million viewers, has been a significant platform for political satire.