The Late Show with Stephen Colbert has been canceled by CBS, with the network citing financial pressures.
Colbert, who has hosted 10 seasons of the show since taking over for David Letterman in 2015, announced the news to his studio audience Thursday.
Although the network cited financial reasons for the cancellation, the decision has faced sharp criticism amid concerns that it was politically motivated.
Highlights
- CBS canceled The Late Show with Stephen Colbert, citing financial pressures despite criticism of potential political motives.
- The cancellation came days after Colbert slammed CBS’s $16M settlement with Trump over a 60 Minutes lawsuit.
- Paramount’s $16M settlement with Trump was linked to avoiding conflict ahead of a merger with reportedly Trump-friendly Skydance.
- Colbert called the settlement a 'big, fat bribe' and joked about pressure on him due to his Trump criticism.
The ‘Late Show with Stephen Colbert’ has been canceled by CBS
Image credits: Scott Kowalchyk/CBS via Getty Images
The decision was announced just days after Colbert returned from holiday and criticized CBS parent company Paramount for settling a lawsuit with President Donald Trump.
Trump’s lawsuit was over how CBS News had edited a segment with former Vice President Kamala Harris during the 2024 presidential election.
The president claimed that CBS’ 60 Minutes news program had deceptively edited the segment to “tip the scales in favor of the Democratic Party.”
CBS had said the claim was “completely without merit,” and that it had edited the interview due to time constraints.
Image credits: Demetrius Freeman/The Washington Post via Getty Images
But two weeks ago, Paramount settled the lawsuit for $16 million, which will go towards Trump’s future presidential library.
The settlement did not include an apology or statement of regret.
The Wall Street Journal and The New York Times reported that the lawsuit was settled so that it did not interfere with Paramount’s expected merger with Skydance Media.
Reports also suggested that Colbert could bear the brunt of the merger because he has long been a vocal critic of Trump, and Skydance is reportedly Trump-friendly.
On Monday, Colbert addressed the settlement on his show and described it as a “big, fat bribe.”
Referring to a headline that suggested the merger could put pressure on him for being a frequent Trump critic, Colbert placed a fake mustache on his face.
“Okay, but how are they going to put pressure on Stephen Colbert if they can’t find him?” he told the audience, pointing to his mustache.
In a statement, CBS said: “This is purely a financial decision against a challenging backdrop in late night,” CNN reported.
“It is not related in any way to the show’s performance, content, or other matters happening at Paramount.”
Critics say the cancellation could be politically motivated
The network also confirmed Colbert would not be replaced, with the entire show to be axed at the end of the season in May 2026.
“I want to let you know something that I found out just last night, next year will be our last season,” Colbert told his audience. “The network will be ending the late show in May.”
There were loud boos from the audience in response, to which Colbert replied: “Yeah, I share your feelings.”
“I do want to say that the folks at CBS have been great partners,” he continued.
“I’m so grateful to the Tiffany network for giving me this chair and this beautiful theater to call home. And of course, I’m grateful to you, the audience, who have joined us every night in here, out there, all around the world.”
Image credits: Scott Kowalchyk/CBS via Getty Images
Colbert expressed his deep gratitude to the 200 people who work on the show, as he described it as a “fantastic” job and said he wished someone else were getting it.
Around 3.5% of Paramount’s workforce was made redundant last month, and a source told CNN that The Late Show is no longer making money due to declining advertisement revenue.
Senator Adam Schiff taped with Colbert on Thursday and was among those calling for political motivation concerns to be addressed.
“Just finished taping with Stephen Colbert, who announced his show was cancelled,” he wrote on X.
“If Paramount and CBS ended The Late Show for political reasons, the public deserves to know. And deserves better.”
Image credits: Jimmy Kimmel
Senator Elizabeth Warren agreed with Schiff in a post on X.
“CBS canceled Colbert’s show just THREE DAYS after Colbert called out CBS parent company Paramount for its $16M settlement with Trump – a deal that looks like bribery,” she wrote.
“America deserves to know if his show was canceled for political reasons.”
Other late-night talk show hosts also commented on the cancellation, with Jimmy Kimmel sharing Colbert’s video on his Instagram story.
“Love you, Stephen,” he wrote. “F**k you and all your Sheldons, CBS.”
Colbert’s axing is not the first time the network has canceled a popular show; in 2023, The Late Late Show with James Corden was cut for not being profitable.
It was replaced by Taylor Tomlinson’s show After Midnight, which ended this year, as Tomlinson did not want to host another season.