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CBS Cancels ‘The Late Show With Stephen Colbert,’ Ending Its Run in Late-Night TV

BBG News

Summary

  • CBS has canceled The Late Show, marking the network’s full exit from late-night television after more than three decades
  • The decision is officially attributed to financial challenges, despite the show’s strong ratings and cultural impact
  • The move comes amid Paramount’s pending merger with Skydance Media, raising questions about future editorial direction under new leadership

CBS has formally declared that “The Late Show With Stephen Colbert” will conclude, with its final broadcast scheduled for May 2026. This decision signifies a significant shift within the realm of network television, as it represents CBS completely leaving behind the conventional late-night talk show genre.

The reason for the decision, as stated by CBS, is primarily financial due to a difficult late-night market and a decline in advertising revenue, making the show no longer profitable. Interestingly, this move comes as a surprise since The Late Show has consistently been the leader in its time slot, ranking first in ratings among all late-night programming.

During a taping, Colbert personally announced to a shocked studio audience that he had learned about the show’s cancellation only the previous night. The crowd reacted instantly with disapproval, voicing their dissatisfaction audibly, as Colbert expressed gratitude towards CBS and viewers, clarifying that he wasn’t being replaced but rather the entire show was disappearing.

The announcement has sparked curiosity in both media and political realms, following closely on the heels of CBS’s parent company, Paramount, agreeing to a $16 million settlement in a lawsuit with former President Donald Trump. Comedian Colbert, who often discusses Trump on his shows, publicly mentioned the settlement, labeling it as a “hefty bribe” during one of his broadcasts. With the timing of the cancelation raising some doubts, certain analysts, including Senators Adam Schiff and Elizabeth Warren, have speculated whether external forces could have impacted the network’s choice.

Senator Schiff stated via X,

If Paramount and CBS terminated the Late Show due to political motives, it’s only fair that the public is informed about this. They also deserve a higher standard of treatment in such situations.

As a gamer, I’ve got to say it honestly, CBS is straight-up pointing at the bottom line when it comes to the show’s axing. They’re talking about soaring production expenses and a drop in ad income as the main reasons behind the cancellation.

Additionally fueling the rumors is Paramount’s impending merger with Skydance Media. It’s been reported that Skydance CEO David Ellison has shown an interest in politics, particularly those of former President Trump. This has led to whispers about how the new leadership might handle the kind of political commentary made by Colbert and others.

For CBS, this decision signifies the close of an impactful phase in their history. The Late Show franchise originated with David Letterman in 1993, and Stephen Colbert took over in 2015. Throughout its tenure under Colbert, the show reigned supreme in late-night ratings. However, despite its success, escalating production expenses and shifts in audience preferences towards more budget-friendly and digitally-focused content proved to be more influential factors in today’s media environment that emphasizes cost efficiency and digital-first strategies.

CBS was gradually reducing its late-night programming. They canceled The Late Late Show with James Corden in 2023, and replaced it with a less expensive show called After Midnight, which recently concluded as well.

Stepping down from “The Colbert Report” marks more than just the conclusion of a television series; it symbolizes the twilight of an entire period in late-night television. And with CBS abandoning this format altogether, it’s undeniable that the traditional network late-night structure is disappearing at a pace that surpasses even the most optimistic predictions.

Take a look at Colbert’s official announcement above.

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2025-07-18 12:26

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