ENTERTAINMENT NEWS – Paramount to end “The Late Show” in 2026; CBS cancels Stephen Colbert

Ananya Roy, News Writer

CBS has announced that The Late Show with Stephen Colbert will end in May 2026, marking the close of both Colbert’s run and the Late Show franchise itself. The network cited “purely financial” reasons for the decision, despite the show’s consistently strong ratings. Colbert, who succeeded David Letterman in 2015 after The Colbert Report, has hosted the show from the historic Ed Sullivan Theater in New York for over a decade.

Addressing the cancellation on Monday’s episode, Colbert said, “Over the weekend it sunk in that they’re killing off our show.” He noted the program’s reported $40 million annual losses, joking, “I could see us losing $24 million, but where could Paramount have possibly spent the other 16… oh yeah,” alluding to the company’s recent legal settlement with President Donald Trump.

Colbert, originally from Washington, D.C. and Bethesda, Maryland, first gained national attention as a correspondent on The Daily Show before launching his Emmy- and Peabody-winning spin-off on Comedy Central. His departure signals a major shift in late-night television as CBS retires one of its most iconic programs, leading to speculation on whether other shows will follow.