CBS is canceling The Late Show With Stephen Colbert. The last episode will air in May 2026. A lot of fans are surprised, especially since Colbert has always been a top performer in late night ratings.
So what’s the real reason for this big change?
CBS said it’s just a money decision due to tough times in late night TV. They said it has nothing to do with the show, the content or anything going on at Paramount, which is their parent company. Importantly, they’re not replacing Stephen Colbert. Instead they’re ending the The Late Show franchise altogether after more than 30 years on the air which started during David Letterman’s time.
“Financial reasons” is a common reason for why TV shows end especially as the world of traditional TV changes. Late night TV is losing viewers because more people are watching shows on streaming services and social media instead. Making these shows costs a lot of money. The salaries for the hosts and the full production teams add up to millions every year. Some reports say The Late Show was costing CBS tens of millions of dollars a year.
The timing of this announcement surprised a lot of people and sparked a lot of speculation about other reasons behind it, possibly related to politics. Three days before the cancellation was announced, Stephen Colbert gave a strong and critical speech about a $16 million deal made between Paramount Global and President Donald Trump.
Trump took legal action against Paramount because of how they edited a 60 Minutes interview. Colbert publicly called the settlement a “big fat bribe” and suggested it was related to Paramount’s upcoming $8 billion merger with Skydance Media which requires approval from the Trump administration.
Colbert was disappointed and questioned the company saying he felt “offended”. His strong criticism, on the network, makes the later cancellation seem suspicious to many including well known political figures. Democratic Senators Adam Schiff and Elizabeth Warren have both asked if the show was canceled because of politics.
They want CBS and Paramount to be transparent about the situation.It’s a tough situation. On one hand the money problems with traditional TV are real. CBS ended The Late Late Show With James Corden in 2023. Their new show After Midnight just ended too. Maybe they’re getting out of the late night business altogether because it’s not profitable.
On the other hand The Late Show with Stephen Colbert has been #1 on CBS for 9 years. Viewership has dropped from its high but it’s still beating many shows in its time slot. Since Colbert recently called out the company on the settlement, the “it’s just business” explanation doesn’t seem as believable to some.
In the end it’s business but the combination of the challenges of late night TV, the merger with Paramount and Colbert’s recent sharp political commentary has left many unclear. The end of The Late Show With Stephen Colbert marks the end of an era in late night TV no matter what the reason was financial, political or both.
