Why ‘The Late Show with Stephen Colbert’ Is Ending in 2026

On Thursday, CBS announced the shocking news that “The Late Show with Stephen Colbert” is ending next year.

The network claimed that the show was being canceled because of a “financial decision.”

In a statement, CBS said, “We consider Stephen Colbert irreplaceable and will retire ‘The Late Show’ franchise in May of 2026. 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. 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.”

Variety reports Colbert learned of the network’s decision to pull the plug on the show on Wednesday.

Colbert addressed the cancellation during Thursday’s taping of the show.

He told the audience, "Next year will be our last season. The network will be ending our show in May... It’s the end of ‘The Late Show’ on CBS."

Amid all the boos from the crowd, he went on, "It's not just the end of our show, but it's the end of 'The Late Show' on CBS. I'm not being replaced. This is all just going away. And I do want to say... that the folks at CBS have been great partners. I'm so grateful to the Tiffany Network for giving me this chair and this beautiful theater to call home. And, of course, I'm grateful to you, the audience, who have joined us every night."

He went on to say he was "extraordinarily, deeply grateful to the 200 people who work here." 

"I've had the pleasure and the responsibility of sharing what we do every day with you in front of this camera for the last 10 years. It is a fantastic job. I wish somebody else was getting it. It's a job that I'm looking forward to doing with this usual gang of idiots for another 10 months."

Colbert took over from David Letterman, who debuted the show in 1993, in 2015.