CBS has announced that The Late Show With Stephen Colbert will end next year.
The network described the host as “irreplaceable” and said it will retire the long-running franchise, citing a “financial decision.”
In a joint statement to CBS News, George Cheeks, the Co-CEO of Paramount Global; Amy Reisenbach, the President of CBS Entertainment and David Stapf, the President of CBS Studios said: “The Late Show With Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season. We consider Stephen Colbert irreplaceable and will retire The Late Show franchise at that time.
“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.”
The statement continued: “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.”
Colbert reportedly broke the news to the audience during the taping of tonight’s show, saying: “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.”
The Independent has approached CBS for further comment.
The Late Show was previously hosted by David Letterman from 1993 to 2015. Colbert has hosted since September 2015. The show is recorded at the Ed Sullivan Theater in Manhattan, New York City.
In May, Colbert used the show to heavily criticize his network’s corporate bosses over concerns that they could be breaking anti-bribery laws by looking to settle a meritless lawsuit with Donald Trump to get his administration’s approval for a merger.
The host did an actual spit-take after pointing out that Paramount is looking to pay the president what he called a $50 million “bribe” as the company looks to complete a multi-billion-dollar deal with Skydance Media.
Colbert made his name on Jon Stewart’s The Daily Show on Comedy Central, and Stewart has also spoken out about the circumstances surrounding the planned merger. In a recent episode of The Daily Show, Stewart joked of Trump: “So the implication is you don’t get your $8 billion merger… unless you give me a tremendous amount of money…. I’m obviously not a lawyer, but I did watch Goodfellas—that sounds illegal.”
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The Late Show is well-known for producing memorable celebrity interviews. Last night, Joaquin Phoenix apologized and offered an explanation for his infamous appearance on David Letterman’s version of the talk show in 2009.
