CBS Announces End of "The Late Show" Franchise in 2026

Stephen Colbert will conclude his run as host of The Late Show in May 2026, bringing the iconic CBS late-night franchise to an end after more than 30 years on air. CBS called the decision "purely financial," citing the increasingly difficult economics of late-night television, but emphasized it was not related to ratings, content, or the ongoing merger drama surrounding parent company Paramount.

Colbert broke the news to his audience during Thursday’s taping, confirming the show’s tenth season will be its last. “I’m not being replaced—this is all just going away,” he said, acknowledging the network’s support while thanking the show’s staff and loyal viewers. Despite the show’s continued dominance in ratings over the past nine seasons, CBS said the economics simply no longer made sense.

The announcement comes amid ongoing scrutiny over Paramount’s $8.4 billion proposed merger with Skydance Media, and follows criticism of the company’s recent $16 million legal settlement with Donald Trump over a 60 Minutes interview. Colbert, a longtime critic of Trump, has not shied away from expressing his disapproval of the deal—leading to speculation about political motivations behind the show’s cancellation, including a public statement from Sen. Adam Schiff.

As The Late Show prepares for its final season, Colbert promised to deliver ten more months of the same sharp, satirical commentary that made the show a late-night staple. “It’s a fantastic job,” he said. “I wish somebody else was getting it.”