CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.

The Late Show with Stephen Colbert will be canceled at the end of the 2025–2026 season, according to The Guardian. The decision, according to CBS’s parent company Paramount Global, is “purely financial” and unrelated to the show’s performance or content.

Colbert's 'The Late Show' will end in May 2026. Colbert's blend of comedy and commentary has made him a voice of reason in an era of political turmoil.

The East and West Coast branches of the union conveyed concerns that the move may be “sacrificing free speech to curry favor with the Trump Administration.”