One of America’s most popular late-night talk shows, The Late Show with Stephen Colbert, has been cancelled after more than 30 years on-air.
The show, which airs on CBS, will come to an end in 2026, with Colbert announcing the news on Thursday’s program during a taping at the famous Ed Sullivan Theatre in New York.
Colbert Breaks the News
“Before we start the show, I want you to know something that I found out just last night,” the comedian said in his opening monologue.
“Next year will be our last season. The network will be ending The Late Show in May.”
Colbert, 61, had been hosting the franchise since 2015, when former presenter David Letterman retired after debuting the series in 1993.
A Financial Decision
CBS later said axing the show was a “purely a financial decision”, with the network’s co-CEO and president and CEO George Cheeks, CBS Entertainment head Amy Reisenbach, and CBS Studios president David Stapf releasing a group statement.
“The Late Show With Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season,” they said.
“We consider Stephen Colbert irreplaceable and will retire The Late Show franchise at that time.”
The Trump Controversy
The news comes as controversy surrounds Paramount Global’s recent settlement with US President Donald Trump, with some critics linking the two events.
Despite Colbert’s blockbuster salary, reportedly $US15 million per year, the network’s decision to axe the show has raised eyebrows.
Colbert himself blasted his own employer on live TV over the Trump settlement saga earlier this week.
A Prolonged Goodbye
CBS has promised to give the show a “proper sendoff” over the next 10 months, with Colbert and his team set to receive a grand farewell.
The network praised Colbert’s achievements, saying his comedy “resonates daily across digital and social media” and the broadcast is a “staple of the nation’s Zeitgeist”.