CBS will end Stephen Colbert's "Late Show" next season after the comedian openly criticized the network and its parent company, Paramount, over a settlement with President Donald Trump.
CBS executives insisted in a statement that the cancellation was "purely a financial decision."
“We consider Stephen Colbert irreplaceable and will retire ‘The Late Show’ franchise” in May of 2026,” CBS executives said in a statement to Variety. “We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television. This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content or other matters happening at Paramount.”
Colbert learned of the decision Wednesday evening, a person familiar with the matter told the outlet. He told informed the audience at Thursday’s taping about the matter.
The news comes after Colbert blasted CBS's deal with Trump to settle his lawsuit — widely regarded by legal experts as frivolous — over their editing of a "60 Minutes" interview with then–Vice President Kamala Harris during the 2024 presidential campaign.
"I believe this kind of complicated financial sentiment with a sitting government official has a technical name in legal circles. It’s ‘big fat bribe,’ because it all comes as Paramount’s owners are trying to get the Trump administration to approve the sale of our network to a new owner, Skydance!" Colbert said.
Sen. Adam Schiff (D-CA), a vocal critic of Trump, reacted to the news on X, writing: "Just finished taping with Stephen Colbert who announced his show was cancelled. If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better."