CBS confirmed it will end “The Late Show with Stephen Colbert” in May 2026, after 33 years on the air. Executives attribute the decision to financial difficulties amid changing viewer habits, noting a 50% drop in late-night ad revenue over recent years. The show remained the highest-rated in its time slot but was reportedly costing CBS tens of millions annually.
The cancellation follows CBS’s $16 million settlement with Donald Trump over a lawsuit concerning a “60 Minutes” interview. Colbert publicly criticized the deal, suggesting it was a “big fat bribe,” leading to speculation that political pressures may have played a role in the show’s end.
Congressional Democrats and industry insiders have called for transparency about the decision. The merger of CBS’s parent company with Skydance Media is also under government review, adding complexity to the situation.
