Decision driven by financial challenges, not performance
CBS has announced that The Late Show with Stephen Colbert, one of the most iconic late-night programs in the U.S., will come to an end in 2026. The decision also marks the retirement of The Late Show franchise after a 33-year run.
Stephen Colbert broke the news to his audience during Thursday night’s taping, revealing he had only been informed the night before. “Yeah, I share your feeling,” he said in response to the crowd’s booing.
The network confirmed that Colbert will not be replaced, bringing a definitive close to the long-standing late-night format on CBS. Originally launched with David Letterman in 1993, the show was taken over by Colbert in 2015 following Letterman’s retirement.
In a statement quoted by Reuters, CBS clarified, “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.”
The announcement comes as CBS’s parent company, Paramount Global, attempts to revive a merger deal with Skydance Media after a failed attempt last year.
“This was an agonizing decision,” said CBS and Paramount executives George Cheeks, Amy Reisenbach, and David Stapf. “Our admiration, affection and respect for Stephen Colbert and his incredible team made it even more difficult.”
The cancellation underlines the shifting economics of late-night television amid changing viewer habits and broader media industry consolidation.
