CBS announced Thursday it will cancel “The Late Show with Stephen Colbert” at the end of the next TV season, retiring the entire franchise in May 2026.
The network insisted the move was “purely a financial decision,” but the timing and circumstances tell a bigger story.
“I’m Not Being Replaced — It’s Just Going Away”
Colbert, who rose to fame mocking conservatives, appeared shaken during Thursday night’s taping. He told his audience he had just learned the news.
“I’m not being replaced. This is all just going away,” he said from the desk he’s occupied since 2015.
He also thanked CBS for the opportunity and praised the 200 staffers on his team.
But as the crowd booed, Colbert acknowledged their reaction:
“Yeah. I share your feelings.”
CBS Blames Money — But There’s More to It
CBS execs claimed the cancellation “is not related in any way to the show’s performance, content or other matters happening at Paramount.”
But that’s hard to believe.
Colbert’s show has become increasingly polarizing, driving away half the country with nightly rants against President Donald Trump, conservatives, and anyone who doesn’t share Hollywood’s far-left worldview.
The writing may have been on the wall for months:
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CBS already canceled “After Midnight”, which replaced James Corden’s failed “Late Late Show”
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Paramount Global, CBS’s parent company, is in deep financial trouble and currently finalizing a takeover deal with Skydance Media
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CBS also recently settled a lawsuit with President Trump, reportedly to smooth over the merger process
Colbert’s Decline Mirrors the Collapse of Late-Night TV
Colbert took over The Late Show from David Letterman in 2015, riding a wave of anti-Trump sentiment into the top spot in the ratings for a time. But over the last few years, his act wore thin, with millions of viewers tuning out as he focused more on politics than comedy.
Now, CBS is walking away from the entire Late Show brand — a brand that has run since Letterman’s NBC defection in 1993.
Colbert will finish out the 2025–2026 season. But after that, the lights go out at the Ed Sullivan Theater.
