Stephen Colbert announces ‘The Late Show’ will end in May 2026. CBS says it’s a financial decision amid controversy over a Trump lawsuit settlement.
Colbert Confirms End of Show to Live Audience
At a live taping on Thursday, Emmy-winning host Stephen Colbert told his audience that “next year will be our last season.” The news confirms that The Late Show with Stephen Colbert will end its run in May 2026, marking the close of a decade-long chapter on CBS.
CBS Cites Financial Strain, Denies Political Motive
CBS and parent company Paramount Global stated the decision was “purely financial,” citing the challenging economics of late-night TV. They emphasized that the cancellation is unrelated to Colbert’s content or recent criticism of the network.
However, the announcement follows days of internal tension. Earlier this week, Colbert publicly condemned Paramount’s $16-million settlement with former U.S. President Donald Trump, calling it a “big fat bribe” and expressing deep distrust in the company’s motives.
Political Fallout and Growing Suspicion
Colbert’s criticism of Paramount’s settlement has sparked political backlash. Prominent U.S. lawmakers, including Senator Adam Schiff and Senator Elizabeth Warren, questioned whether the show’s cancellation is politically motivated. Schiff posted on social media: “If CBS ended the Late Show for political reasons, the public deserves to know.”
A Ratings Leader Amid Late-Night Decline
Despite financial pressures, Colbert’s show has remained a top performer. Nielsen ratings show The Late Show leads its time slot with 2.417 million viewers, outperforming other late-night programs. It’s the only show in the category to gain viewers this year, and it recently received a Primetime Emmy nomination for Outstanding Talk Show.
Since taking over from David Letterman in 2015, Colbert has shifted the show toward sharper political satire. He is known for his direct critiques of Trump and frequent interviews with U.S. lawmakers, diverging from traditional celebrity-focused formats.
Industry Trends and Broader Context
Late-night television has been undergoing a structural decline, with shrinking viewership and the rise of digital-first audiences. Networks like CBS and NBC have trimmed production budgets and schedules—NBC recently cut Jimmy Fallon’s runtime and eliminated the house band on Seth Meyers’s show. CBS also cancelled Taylor Tomlinson’s After Midnight earlier this year.
Still, Colbert’s show showed no public signs of budget cuts or performance issues, leading to questions about the timing and reasoning behind CBS’s decision.
End of an Era—And the Start of Speculation
Stephen Colbert’s departure will mark the end of a significant era in political comedy, having emerged from The Daily Show and The Colbert Report as a defining voice in satire. His 10-year anniversary on The Late Show is set for September 2025.
Whether the cancellation is purely financial—as CBS claims—or a politically charged decision remains a subject of debate. For Canadian audiences familiar with Colbert’s legacy and his cultural impact, the news signals a major shift in North American late-night television
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