On July 17, 2025, CBS shocked viewers by announcing that “The Late Show with Stephen Colbert” would conclude in May 2026, marking the end of over three decades of late-night programming. The network cited ongoing financial challenges in late-night television as the reason behind this difficult decision, emphasizing it was not related to the show’s performance or Colbert’s content. Despite strong ratings — the show had nearly 2.5 million viewers in early 2025 — the evolving media landscape and ad revenue declines made continued production unfeasible.
Colbert, who took over hosting duties in 2015 following David Letterman, shared the news on-air with his audience reacting with sadness and boos. He acknowledged the impact of the announcement, calling it a painful moment. This cancellation marks the final chapter of a franchise CBS launched in 1993, which has played a major role in shaping late-night TV as we know it.
Adding to the backdrop is CBS’s impending merger with Skydance Media, requiring federal approval, and a $16 million settlement the company agreed to pay former President Trump following a lawsuit. Critics and politicians question whether these factors, alongside the network’s shifting priorities, influenced the show’s cancellation. Colbert had criticized the settlement openly on his program.
With the genre facing decline and competitors like Jimmy Kimmel and Jimmy Fallon adapting to a changing audience, many wonder what the future holds for late-night talk shows in the streaming era.
