Summary: Stephen Colbert’s tenure as host of The Late Show will end in May 2026, a decision CBS described as “purely financial.” CBS will not replace Colbert or continue The Late Show, which has been a cornerstone of the network’s lineup since its launch in 1993. The cancellation announcement came amid a difficult time for CBS’s parent company, Paramount Global, which is currently seeking approval for a major merger. Stephen Colbert’s run as host of The Late Show will come to a close in May 2026, CBS announced Thursday, ending a decade-long stretch that redefined political satire on late-night television.