Stephen Colbert, one of the biggest voices in late-night TV, will wrap up his run as host of The Late Show in May 2026. CBS announced the cancellation and will retire the franchise altogether after 33 years. Fans are shocked and upset, and it’s especially galling since Colbert just ripped into CBS’s parent company, Paramount Global, for settling a lawsuit with Donald Trump. CBS says it’s all about the benjamins, but questions remain about the timing, the motive and the politics behind ending one of the highest-rated shows in late-night TV.
CBS very recently announced that The Late Show with Stephen Colbert will conclude in May 2026, after 33 years, and the whole franchise will be retired and not passed on to a new host. Colbert told his live audience. Fans were sad. He replied, “Yeah, I share your feelings.” He added, “It’s not just the end of our show. I’m not being replaced. This is all just going away.”
CBS Calls it a Financial Decision
CBS released a joint statement. Executives said they are retiring the show due to financial reasons, not political pressure. They wrote, “Stephen Colbert is irreplaceable. We will end the franchise with him.” CBS also praised Colbert’s contributions to late-night TV. They emphasized the cancellation has nothing to do with the show’s performance or Paramount’s recent controversies. Colbert got to thank CBS. He called it a “great job” and said he will finish strong with his team.
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Lawsuit Settlement Raises Questions
CBS’s parent company, Paramount Global, recently settled a $16 million lawsuit with Donald Trump. He claimed 60 Minutes misquoted an interview with Kamala Harris. The timing was suspicious. Many wondered what was behind both moves. On his show, Colbert ripped the settlement. “They called the lawsuit baseless and still paid up,” he said. He also joked it felt like “a big fat bribe
Paramount Under Pressure During Skydance Merger
Skydance Media was to merge with ViacomCBS (their parent company) for an $8.4 billion deal. That deal needs FCC approval. Trump’s appointee, Brendan Carr, is reviewing the merger. Colbert’s harsh words may have ticked off executives. Critics say that’s why they cancelled his show. But Paramount and CBS say the lawsuit and the merger are separate.
Lawmakers and Celebrities Speak Out
Several public figures are speaking out. Senator Adam Schiff taped a segment with Colbert right before the announcement. He wrote to X and said, “If indeed Paramount and CBS canceled The Late Show for political reasons, the public deserves to know as much.” Senator Elizabeth Warren also replied. She demanded to know about Paramount’s relationship with Trump and the timing of the show’s end. Celebrities are standing up for Colbert. Jimmy Kimmel wrote on Instagram, “Love you, Stephen,” and went off on CBS.
Colbert is a Late-Night Giant
Before landing the Late Show job, he was a bit of an uproar on Comedy Central with The Colbert Report. His version of The Late Show has won its time slot. Nielsen says he’s the only host to gain viewers this year.
CBS Cuts More Late-Night
This isn’t the only show CBS is cutting. Colbert produced that show and thanked CBS for supporting it. He praised Tomlinson and the whole staff. Now, both shows are off the CBS schedule. NBC has already cut live music and reduced episodes on its shows. CBS is following suit.
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End of an Era or Beginning of a Backlash?
Stephen Colbert has 10 months left. Supporters will watch how CBS handles the transition. Critics will ask if politics played a role in the cancellation. Others think this is the start of a conversation about media, power and free speech. No matter what, Stephen Colbert’s legacy will live on.
Stephen Colbert is leaving, so it’s not just the end of a great show, it’s the end of an era in late-night and media politics. As we say goodbye, the debate rages on about whether it was financial or political pressure that forced CBS’s hand. Colbert’s. Whether new voices will rise in his place, Colbert’s voice will be heard in comedy, media and the national conversation long after The Late Show goes dark.
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