CBS is ending The Late Show.
Stephen Colbert, the late-night show’s host since 2015, broke the news after taping Thursday’s episode.
Colbert also clarified that he is not being replaced as host because the show is going away altogether after its upcoming 2025-2026 season. His final episode is expected to air next May.
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“It is a fantastic job. I wish somebody else was getting it,” Colbert said, revealing that he learned the shocking news “just last night.”
“I do want to say that the folks at CBS have been great partners,” Colbert added. “I’m so grateful to the Tiffany Network for giving me this chair, and this beautiful theater to call home.”
Colbert also thanked the Ed Sullivan Theater audience, viewers, the show’s house band, and all its staffers.
In a statement, CBS executives said they consider Colbert “irreplaceable.”
“This is purely a financial decision against a challenging backdrop in late night,” read the statement from CBS Studios President David Stapf, CBS Entertainment President Amy Reisenbach, and CBS President and CEO George Cheeks.
“It is not related in any way to the show’s performance, content or other matters happening at Paramount,” they added.
Paramount, CBS’ parent company, is on the verge of being acquired by Skydance—a move that requires the approval of the Federal Communications Commission.
Paramount recently settled a $16 million lawsuit with President Donald Trump, which was—on its face—about a 60 Minutes interview with Kamala Harris, but which many saw as a way to grease the wheels for the FCC’s approval. In fact, Colbert himself dubbed it a “big, fat bribe” on Monday night’s show.
“As someone who has always been a proud employee of this network, I’m offended, and I don’t know if anything will ever repair my trust in this company,” Colbert said on-air just three days ago.
Jon Stewart of The Daily Show, where Colbert rose to prominence, has also criticized the moves of their shared parent company Paramount and acknowledged on Thursday that his days could also be numbered.
“They may sell the whole f---ing place for parts, I just don’t know,” Stewart predicted. “And we’ll deal with it when we do. But I’m so happy and proud of everybody that works over there. They want to do that? Knock themselves out.”
In September 2015, Colbert took the late-night reins at CBS from David Letterman, who hosted 23 seasons of The Late Show beginning in 1993. Colbert’s Late Show received strong ratings during the first Trump administration and in the following few years, while earning eight Primetime Emmy Award nominations for Outstanding Variety Talk Series—the most recent one occurring earlier this week.
