“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.”
That’s the official statement from statement from Paramount Global and CBS President/CEO George Cheeks; CBS Entertainment President Amy Reisenbach; and CBS Studios President David Stapf released following the announcement by Stephen Colbert that the upcoming season will be the last for the network.
And, to be clear, Colbert is leaving on his own volition. “The network will be ending The Late Show in May,” Colbert told his audience at the start of Thursday’s episode — something he “just found out last night.” Loud boos could be heard from the audience. “Yeah, I share your feelings,” Colbert responded.
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Sen. Adam Schiff (D-Calif.) was his guest, and with political divisiveness at an all-time high, many were quick to call the cancellation of The Late Show a move directly linked to the still-pending merger between CBS News & Stations parent Paramount Global and Skydance Media.
In contrast, one reader told RBR+TVBR late Thursday, “He had 200 people working on that show … do you blame them?” In contrast, ratings leader Gutfeld! on FOX News Channels has a staff of no more than 30 people.
Cheeks, Reisenbach and Stapf noted in their joint statement, “We consider Stephen Colbert irreplaceable and will retire ‘THE LATE SHOW’ franchise” in May 2026. “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.”
They continued, “Our admiration, affection, and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult. Stephen has taken CBS late night by storm with cutting-edge comedy, a must-watch monologue and interviews with leaders in entertainment, politics, news and newsmakers across all areas. The show has been #1 in late night for nine straight seasons; Stephen’s comedy resonates daily across digital and social media; and the broadcast is a staple of the nation’s zeitgeist. The accomplishments of ‘THE LATE SHOW with STEPHEN COLBERT’ are memorable and significant in performance, quality and stature. With much gratitude, we look forward to honoring Stephen and celebrating the show over the next 10 months alongside its millions of fans and viewers.”
Addressing his audience, Colbert said, “It’s not just the end of our show, but it is the end of The Late Show on CBS. I’m not being replaced. This is all just going away. And, I do want to say that the folks at CBS have been great partners. I’m so grateful to the Tiffany Network for giving me this chair … It’s a fantastic job. I wish somebody else was getting it.”
