Why Was ‘The Late Show With Stephen Colbert’ Canceled?

Stephen Colbert announced in July that CBS will be canceling “The Late Show” in May 2026, more than 10 years after he took over as host.

During a July 17 show taping, Colbert, 61, announced the news, telling a live studio audience that “it’s not just the end of our show, but it’s the end of ‘The Late Show’ on CBS,” adding, “I’m not being replaced. This is all just going away.”

That same day, the heads of Paramount Global and CBS released a statement, saying their “agonizing decision” was “purely a financial” one and is “not related in any way to the show’s performance, content or other matters happening at Paramount.”

Some of the comedian’s colleagues, politicians and “The Late Show” fans questioned the decision’s timing, however. News of the cancellation came just days after Colbert called out CBS’ $16 million settlement with the White House over a “60 Minutes” interview with then-Vice President Kamala Harris.

Then, days after the cancellation announcement, the U.S. Federal Communications Commission approved an $8 billion deal, which merged Paramount Global with Skydance Media. The agreement places government conditions on the network’s news division.

Colbert began hosting the popular late-night talk show in 2015 when he inherited the job from the show’s creator, late-night giant David Letterman, who launched the production in 1993.

Read on to learn more about the “The Late Show” cancellation.

Why Was ‘The Late Show’ Canceled?

Colbert announced during a July 17 taping of “The Late Show with Stephen Colbert” that CBS made the decision to end the show in May 2026.

In his announcement, Colbert did not give a reason for the cancellation but noted the program will not continue with another host.

“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,” CBS’ parent company, Paramount Global, said in a statement released the same day.

Despite the company’s response, some of Colbert’s supporters have pointed to the timing surrounding the announcement.

Just days before the July 17 taping, Colbert called a $16 million settlement between CBS and the Trump Administration a “big fat bribe” in his opening monologue. The network agreed to the settlement after the White House filed a lawsuit over a “60 Minutes” episode with Harris, claiming the interview was deceptively edited.

In response to Trump’s allegations, CBS released a statement in October 2024, saying the claims were “false.”

“When we edit any interview, whether a politician, an athlete, or movie star, we strive to be clear, accurate and on point. The portion of her answer on 60 Minutes was more succinct, which allows time for other subjects in a wide ranging 21-minute-long segment,” the network wrote at the time, inviting Trump on the show for an interview during his 2024 presidential campaign.

Then, days after “The Late Show” announcement, the FCC approved a merger between Paramount Global with Skydance Media. The $8 billion deal went into effect Aug. 7.

In the agreement, which places government conditions on the network’s news division, FCC Chair Brendan Carr said in a statement that he approved of Skydance to make “significant changes” to CBS’ broadcast network.

“Today’s decision also marks another step forward in the FCC’s efforts to eliminate invidious forms of DEI discrimination. And Skydance’s commitment to enhancing local news and reporting—coverage valued by the public — will also inure to the benefit of the American people,” the statement said, in part.

FCC Commissioner Anna Gomez, a Democrat who voted against the merger, called the conditions laid out in the deal a “never-before-seen forms of government control over newsroom decisions and editorial judgment — actions that violate both the First Amendment and the law.”

In a press conference after signing the deal, Paramount Global CEO George Cheeks held firm in blaming the company’s decision to cancel the show on economics, per Deadline.

Though he did not disclose specifics on the amount of money “The Late Show” was costing CBS “wasn’t sustainable to continue,” telling reporters the amount was “significant” and in the “tens of millions of dollars.”

Cheeks added that they are “huge fans of Colbert” and that the companies involved in the agreement “love the show,” according to the publication.

President Donald Trump’s Reaction to ‘The Late Show’ Cancellation

On July 18, a day after the cancellation announcement, President Donald Trump reacted to the news on Truth Social.

“I absolutely love that Colbert’ got fired. His talent was even less than his ratings. I hear Jimmy Kimmel is next. Has even less talent than Colbert!” Trump wrote, then referring to a Fox News host. “Greg Gutfeld is better than all of them combined, including the Moron on NBC who ruined the once great Tonight Show.”

Colbert subsequently showed the post on his July 21 opening monologue, telling Trump to “go f— yourself.”

Last week at a press conference, Trump called out Colbert among some of his fellow late-night hosts, saying they have “no talent” and threatening the end of their respective shows.

“Colbert has no talent, Fallon has no talent, Kimmel has no talent, they’re next, I hear they’re going to be going. I don’t know but I would imagine because you know Colbert has better ratings than Kimmel or Fallon, you know that?,” Trump said.

Colbert poked fun at Trump’s comments during his Aug. 7 opening monologue, saying, “To be fair, I think we’re all equally untalented. I just want to say thank you for watching, sir, and thank you for agreeing to be in our new promo.”

In the same monologue, Colbert jokingly opened the door for a new opportunity on streaming, saying, “Netflix, call me I’m available in June.” He later added, “I will also entertain offers from Amazon.”

What Stephen Colbert, Colleagues and Politicians Have Said About ‘The Late Show’ Cancellation

When sharing the news July 17, Colbert, who said he learned of his show’s cancellation the night before his announcement, called the people at CBS “great partners”

He expressed his gratitude to his viewers, his band and his guests over the years, acknowledging the show will not leave the air until May 2026.

“We get to do this show for each other every day, all day, and I’ve had the pleasure and the responsibility of sharing what we do every day with you in front of this camera for the last 10 years,” he said.

“And let me tell you, it is a fantastic job. I wish somebody else was getting it, and it’s a job that I’m looking forward to doing with this usual gang of idiots for another 10 months.”

Standing in solidarity with Colbert, Letterman shared a compilation of old video footage July 21 on his YouTube channel, capturing over 20 minutes worth of times was critical of CBS while hosting “The Late Show.”

He captioned the video, which featured clips from 1994 through 2012, “You can’t spell CBS without BS.”

In an interview on “The Barbara Gaines Show” with his former producer on July 25, Letterman called the cancellation “very strange,” “complicated” and “a bit of a surprise.”

“If they were losing this kind of money, you’re telling me losing this kind of money happened yesterday?” he asked rhetorically, directing the question to CBS and Paramount. “They did not do the right thing. They did not handle Stephen Colbert, the face of the network, in the way he deserves to have been handled.”

Letterman added, “Now for Stephen, I love this. He’s a martyr. Good for him. And if you listen carefully, you can hear them unfolding chairs at the hall of fame for his induction.”

While several of Colbert’s fellow late-night show hosts shared a post with a clip of the announcement on their Instagram stories with messages to CBS, other figures voiced reaction to the cancellation in the comment section of the same post.

“My admiration and appreciation for you is bottomless. Excited to see what other brilliance you put into the world,” Judd Apatow commented, with a red heart emoji.

Jon Batiste wrote, “The greatest to ever do it.”

Comedian Adam Scott wrote, “Love you Stephen. This is absolute bulls—, and I for one am looking forward to the next 10 months of shows.”

Andy Cohen shared, “i’m so pissed off.”

Kathryn Hahn commented a heartbreak emoji and wrote, “I’m sick to my stomach. Thank you, Mr. Colbert, for your genius.”

The official account for the Merriam Webster dictionary wrote, “heartbroken | adjective | overcome by sorrow.”

The official account for the gameshow “Jeopardy!” commented, “This satirist’s ‘Nation’ doesn’t mind staying up for ‘The Late Show.’”

On the July 21 episode of “The Late Show,” the first episode since Colbert addressed the news, competing late-night hosts, fellow comedians and entertainers rallied around Colbert, making cameos in support.

While Lin-Manuel Miranda and “Weird Al” Yankovic performed music to cheer up disappointed Colbert fans, cameras panned the audience, landing on NBC’s Fallon and Seth Meyers, as well as Jon Stewart and John Oliver.

In addition to the late-night hosts, Adam Sandler and his “Happy Gilmore 2” co-star Christopher McDonald also made a cameo, along with Bravo host Andy Cohen and his bestie, CNN anchor Anderson Cooper.

When Will ‘The Late Show’ Leave Television?

Colbert said in his initial announcement July 17 that “The Late Show” would end in May 2026, at the end of the current season.