NEW YORK – MAY 22: The Late Show with Stephen Colbert during Tuesday’s May 22, 2018 show. (Photo by … More
CBS is ending The Late Show with Stephen Colbert, one of the most-watched programs in late-night television. The cancellation marks the end of a three-decade franchise anchored by the comedian and political commentator. So why is the network pulling the plug on one of its most successful shows?
In a statement on Thursday, CBS announced that The Late Show with Stephen Colbert will conclude in May 2026, following the expiration of Colbert’s contract. The decision comes as a surprise to many, given the show’s strong ratings and popularity in the late-night lineup.
According to second-quarter viewership data from 2025, The Late Show with Stephen Colbert led the 11:35 p.m. time slot in total viewers, averaging 2.417 million across 41 first-run episodes. It was also the only late-night program to see its viewership increase over the first quarter, rising by 1%. In the key 18–49 demographic, the show drew 219,000 viewers, according to Late Nighter, citing Nielsen data.
Why Is CBS Cancelling The Late Show With Stephen Colbert?
NEW YORK – OCTOBER 2: The Late Show with Stephen Colbert during Monday’s October 2, 2023 show. … More
CBS said The Late Show with Stephen Colbert’s cancellation was “purely a financial decision against a challenging backdrop in late night” and had nothing to do with the show’s ratings, content or broader issues at Paramount.
“It is not related in any way to the show’s performance, content or other matters happening at Paramount,” the execs said. “Our admiration, affection and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult.”
The New York Times reported that the show’s cancellation comes at a challenging time for the late-night landscape. Not only has the number of late-night programs declined in recent years — with Trevor Noah and James Corden exiting in 2022 and Taylor Tomlinson’s show ending in 2025 — but the genre has also faced a steep drop in advertising revenue. In 2018, network late-night shows generated $439 million in ad revenue, according to Guideline. By last year, that figure had fallen to $220 million, marking a 50% decline over just seven years.
There are also questions about whether the show’s cancellation is connected to the government’s review of Paramount’s merger with Skydance or its recent legal settlement with former President Trump.
Paramount is in the process of finalizing a multibillion-dollar merger with the movie studio Skydance, a deal that requires approval from the Trump administration. The company also recently agreed to pay President Trump $16 million to settle a lawsuit over a 60 Minutes interview with former Vice President Kamala Harris that aired last year, a move Colbert later criticized on his show.
“Now, I believe this kind of complicated financial settlement with a sitting government official has a technical name in legal circles. It’s big fat bribe,” Colbert said during his monologue. “Paramount’s owners are trying to get the Trump administration to approve the sale of our network to a new owner, Skydance.”
Colbert also made jokes about reports that said the network’s “new owner’s desire to please Trump could put pressure” on him and his talk show.
Politicians Question Whether Colbert’s Cancellation Was Politically Motivated
NEW YORK CITY – JULY 17: The Late Show with Stephen Colbert and guest Sen. Adam Schiff during … More
At the same time, Democratic lawmakers are calling on Paramount and CBS to clarify the decision to end the show amid Mr. Colbert’s criticism of President Trump and Paramount’s $16 million settlement with him.
Senator Adam B. Schiff, Democrat of California, who appeared as a guest on The Late Show on Thursday, took to X after the news was announced. “If Paramount and CBS ended The Late Show for political reasons, the public deserves to know,” he wrote.
Senator Elizabeth Warren, Democrat of Massachusetts, released a statement saying, “CBS canceled Colbert’s show just three days after Colbert called out CBS owner Paramount for its $16 million settlement with Trump — a deal that looks like bribery. America deserves to know if his show was canceled for political reasons.”
How Did Stephen Colbert React To The Cancellation?
NEW YORK CITY – JULY 17: The Late Show with Stephen Colbert during Thursday’s July 17, 2025 show. … More
On Thursday’s episode, Colbert broke the news about the decision and said he was informed of the cancellation on Wednesday night. When the studio audience responded with boos, he said, “Yeah, I share your feelings.”
The comedian said being the host of The Last Show was “a fantastic job” and he wished “somebody else was getting it.” He also said the CBS executives “have been great partners,” and added, “I’m so grateful to the Tiffany Network for giving me this chair and this beautiful theater to call home.”
On Instagram, celebrities and public figures flooded the show’s comments with messages of support for Colbert.
“I am so upset about this. I need more information. We love you @stephenathome,” journalist Katie Couric wrote.
“i am extremely sad. i adore you, stephen,” added singer and actress Rachel Zegler.
Actor Adam Scott said, “Love you Stephen. This is absolute bullsh*t, and I for one am looking forward to the next 10 months of shows.”
“My admiration and appreciation for you is bottomless. Excited to see what other brilliance you put into the world,” commented director and film producer Judd Apatow.
Stay tuned for more details.
