CBS cancels ‘Late Show With Stephen Colbert’ citing ‘financial decision’

Stephen Colbert’s beloved late-night show is coming to an end.

CBS announced its plan to cancel “The Late Show With Stephen Colbert” after the next TV season in a statement on Thursday, July 17.

The network claimed it was “purely a financial decision.”

CBS via Getty Images

“We consider Stephen Colbert irreplaceable and will retire ‘The Late Show’ franchise’ in May of 2026,” CBS executives’ statement read. “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,” the announcement concluded.

Colbert addressed the situation during Thursday’s show taping, sharing he learned the news the night before hitting the stage.

Delivering the news from his iconic “Late Show” desk, the television host said he was appreciative to the network for giving him a platform.

“I’m not being replaced, this is all just going away,” Colbert stated.

CBS via Getty Images

CBS’ decision marks the end of the network’s historic late-night programming, which started when David Letterman jumped ship from NBC in 1993 to host “The Late Show with David Letterman.”

This is a developing story…