The End of an Era: Stephen Colbert’s Late Show Cancellation Marks Significant Shift in Late-Night Television
Unexpected End to a Television Institution
CBS has announced that ‘The Late Show With Stephen Colbert’ will conclude its run in May 2026, with Colbert himself breaking the news during a Thursday taping.
The announcement comes as a surprise to many, as the show has maintained its position as the highest-rated American late-night talk show for nine consecutive seasons, establishing the longest winning streak in franchise history over its competitors.
Financial Decision in a Changing Landscape
CBS stated the cancellation was ‘purely a financial decision’ made in a declining linear TV landscape. The decision comes amid real corporate financial pressures, with Paramount having recently laid off 3.5 percent of its workforce. According to sources close to the network, The Late Show is no longer profitable due to plunging ad revenue.
Industry-Wide Impact and Reactions
The announcement prompted an outpouring of support from the entertainment community, with fellow late-night hosts Jon Stewart, John Oliver, Jimmy Fallon, Seth Meyers, and other comedians making appearances on the show to stand with Colbert.
Interestingly, since the cancellation news broke, The Late Show has experienced a surge in ratings. The week of July 21 set a record as the show’s highest weekly audience share since Colbert took over from David Letterman in 2015, with the following week maintaining strong numbers at an average of 3.016 million viewers.
Legacy and Future Impact
The conclusion of The Late Show at the end of the 2025-26 season will mark a significant milestone, leaving CBS without a late-night presence for the first time since 1993. As John Oliver noted, ‘There were many of us working in late night now that were raised on that show under David Letterman. There will be many future comedy writers that were raised on what Stephen has done with it now. So the fact that that’s going to get taken away is kind of heartbreaking.’
