CBS announced on July 18, 2025, that “The Late Show with Stephen Colbert” will conclude in May 2026, marking the network’s complete exit from the late-night television landscape.
CBS has attributed the decision to financial challenges and a changing media landscape, stating, “This is purely a financial decision against a challenging backdrop in late night. It is not related to performance or content.” The network pointed to declining ad revenue as the reason for the show’s unprofitability. However, the timing of this announcement, just weeks after Paramount Global settled a $16 million lawsuit with Donald Trump related to a CBS News segment, has sparked speculation about potential political influences.
Stephen Colbert, a well-known critic of Trump, referred to the settlement as a “big fat bribe” during his show. Below, we delve into the announcement, reactions, and broader implications, drawing on CBS statements and reports from Variety, Deadline, and The Hollywood Reporter.
The Late Show with Stephen Colbert will air its last episode in May of next year, marking the end of the late-night franchise, Paramount Global’s CBS network said https://t.co/DSQ9wYzker
📷: Scott Kowalchyk/CBS/Getty Images pic.twitter.com/ekCQp0YQpr
— Bloomberg (@business) July 18, 2025Colbert’s Emotional Announcement and Network Context
Colbert announced the news to his studio audience during a taping, revealing that he had learned about the cancellation the night before. Audience members gasped and booed as he said, “Next year will be our last season. It’s the end of The Late Show on CBS.” Despite the emotional moment, Colbert expressed his gratitude to CBS, his crew, and the viewers for their support since he took over from David Letterman in 2015.
CBS’s overhaul includes prior cancellations like “The Late Late Show with James Corden” in 2023 and its successor “, After Midnight.” With no replacement planned, CBS becomes the first major U.S. network to abandon late-night programming entirely. Paramount’s staff layoffs and pending Skydance Media merger underscore corporate consolidation driving these changes.
BREAKING: "The Late Show with Stephen Colbert" and "The Late Show" franchise will end in May 2026, CBS and Colbert announce. https://t.co/hSIZB0mYCl
— CBS News (@CBSNews) July 17, 2025Fellow host Jimmy Kimmel labelled the decision “outrageous.” Senator Adam Schiff, a guest on Colbert’s show, called for transparency: “If politics played a role in the cancellation, the public deserves to know.” Fans online expressed dismay, with many linking it to Colbert’s anti-Trump stance amid the lawsuit settlement.
Colbert’s blend of humour and political commentary built a loyal following, but declining viewership in late-night TV contributed to the end.
