Late Night R.I.P.? CBS Pulls Plug on Colbert’s ‘Late Show’
Stunning move based on financial realities, not content or political pressure
Last year, Jimmy Kimmel predicted the late-night TV format might have only 10 years left.
Today’s shocking announcement suggests that the timeframe could be cut in half. Maybe two-thirds.
CBS is canceling “The Late Show with Stephen Colbert,” citing “financial decisions.” The late-night showcase will run new episodes through May 2026. It will not be replaced.
‘Late Show’ Shocker: CBS Ending Late-Night Franchise in 2026 https://t.co/Gv9mqweRpQ via @thr
— Tammi (@Tammi on the Spoutible🐳🐋, come on over!) (@TLaTela) July 17, 2025
“‘The Late Show with Stephen Colbert’ will end its historic run in May 2026 at the end of the broadcast season,” the network said in a statement. “We consider Stephen Colbert irreplaceable and will retire ‘The Late Show’ franchise at that time. 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.”
Late Night TV revenues have been cratering for some time. Last year, “Late Night with Seth Meyers” fired its house band for financial reasons. Jimmy Fallon’s low-rated “Tonight Show” went from five nights a week to four.
When “The Late Late Show” wrapped in 2023, CBS opted not to replace it with a similar talk show.
The only late-night gabfest showing true growth? Fox News’ “Gutfeld!” The show now airs at 10 p.m. ET.
The “Late Show” cancellation will immediately spark a Trumpian conspiracy. Colbert hinted at such a development earlier this week, vowing to fight on despite parent company CBS’s settlement with Trump over a deceptively edited interview on “60 Minutes.”
Colbert has been one of the biggest comedic thorns in President Donald Trump’s side. He leaned hard into the Russian collusion hoax and has made his Trump attacks a regular part of his program.
It worked, to a degree. “The Late Show” has been the dominant force in late-night for nearly a decade. The show’s ratings aren’t huge, but they consistently beat “Jimmy Kimmel Live!,” “The Daily Show” and “The Tonight Show.”
Why not downsize the production? Move to three nights a week? Make tough but necessary budget cuts?
No.
The show will end its run in 2026. And, if CBS can’t make the numbers add up with the top-rated broadcast show on late night, what does that mean for the competition?
Stay tuned.