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. The network framed the decision as “purely financial” amid a challenging economic landscape for broadcast media.
CBS will air new episodes through the end of the 2025-2026 season, but confirmed it will not replace Colbert or continue The Late Show under a new host. The show, originally launched by David Letterman in 1993, has remained a cornerstone of CBS’s lineup and led its time slot for nine consecutive seasons.
Stephen Colbert announcing that ‘THE LATE SHOW’ has been cancelled and will end in May. pic.twitter.com/Q4PMFuul5z
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“Before we start the show, I want to let you know something that I found out just last night: Next year will be our last season. The network will be ending The Late Show in May,” Colbert shared the news with his studio audience.
The announcement arrives at a tumultuous time for Paramount Global, CBS’s parent company, which is currently seeking approval for an $8.4 billion merger with Skydance Media. Executives were quick to distance the cancellation from ongoing corporate drama or Colbert’s political content, emphasizing the show’s continued strong performance.
Still, the move has ignited speculation. Colbert, 61, has been one of Donald Trump’s most outspoken critics in late night, and the show frequently satirized the former and now current U.S. president. Sen. Adam Schiff (D-Calif.), a guest on Thursday’s episode, posted on X: “If Paramount and CBS ended The Late Show for political reasons, the public deserves to know. And deserves better.”
Late-night television has struggled broadly in the streaming era. According to Nielsen, Fox News’s Gutfeld! Led the late-night ratings in Q2 2025 with 3 million average viewers. Colbert trailed at 1.9 million, ahead of ABC’s Jimmy Kimmel Live! (1.5 million) and NBC’s The Tonight Show (1.1 million).
CBS also axed After Midnight, the post-Colbert program, in March. The cumulative effect signals a shift away from traditional late-night programming, even as these shows continue to serve as cultural touchpoints.
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Colbert joined The Late Show in 2015 after his celebrated run on Comedy Central’s The Colbert Report. Under his leadership, the show evolved into a sharp, politically attuned platform that consistently dominated its rivals.
With 10 months remaining, Colbert said he intends to make the most of his remaining time, “Let me tell you, it is a fantastic job. I wish somebody else were getting it. And it is a job I am looking forward to doing with this usual gang of idiots for another 10 months. It’s gonna be fun.”
