CBS Is Shutting Down ‘The Late Show With Stephen Colbert’ — And Trump Could Be Why, Even If CBS Denies It
CBS has announced it will end “The Late Show with Stephen Colbert” after the next TV season, calling it a “financial decision.” This marks the end of decades of original late-night programming on CBS, which began when David Letterman moved from NBC in 1993. The network says the decision is about money, as producing late-night shows has become more expensive, and younger viewers increasingly watch content online instead of live TV.
In a statement, CBS executives said, “We consider Stephen Colbert irreplaceable and will retire ‘The Late Show’ franchise in May of 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. 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.”
Colbert learned about the decision the night before the announcement. At Thursday’s taping, he told the audience, “It is a fantastic job. I wish somebody else was getting it.” When the crowd booed, he responded, “Yeah, I share your feelings. It’s not just the end of our show, but it’s the end of ‘The Late Show’ on CBS. I’m not being replaced. This is all just going away.”
While CBS points to financial reasons, many suspect there are political factors involved, especially related to President Donald Trump. Both Colbert and Jon Stewart, who hosts a weekly episode of Comedy Central’s “Daily Show,” have been known for their sharp criticism of Trump in their monologues and commentary.
Executives at Skydance Media, the company planning to buy Paramount Global (CBS’s parent company), are said to be watching these shows closely. David Ellison, the head of Skydance, is rumored to have a political interest aligned more with Trump’s views.
California Senator Adam Schiff, a Democrat, weighed in on social media after taping a “Late Show” episode, saying, “If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.”
Just finished taping with Stephen Colbert who announced his show was cancelled.
— Adam Schiff (@SenAdamSchiff) July 17, 2025
If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.
CBS has already been scaling back its late-night efforts. It recently canceled “After Midnight,” a late-night show following “The Late Show” starring comedian Taylor Tomlinson, who left to focus on stand-up comedy despite CBS wanting another season.
The truth is that late-night TV is struggling to keep young viewers who prefer streaming and on-demand content. Hosts like Jimmy Fallon, Jimmy Kimmel, and Colbert still attract big audiences and generate buzz online, but fewer people watch these shows live. Networks have cut back episodes, and no late-night host now airs on Fridays, with Fallon’s “Tonight Show” giving up the last Friday slot.
CBS’s decision surprised many industry insiders because popular hosts usually announce their departures during May “upfront” meetings with advertisers. These events help build excitement for the final season. For example, Johnny Carson announced his exit from NBC’s “Tonight Show” at an upfront event in 1991, and David Letterman’s farewell was celebrated at a CBS event at Carnegie Hall.
Other networks continue to invest in late-night. NBC recently secured big advertisers like Allstate and T-Mobile to support the 50th season of “Saturday Night Live.” They are also promoting a new show featuring Jimmy Fallon called “On Brand,” where Fallon markets products.
Stephen Colbert’s time on “The Late Show” has been notable. When he took over in 2015, he had to leave behind the conservative character he played on Comedy Central and become more authentic on-air. His early months faced tough comparisons to James Corden’s “Late Late Show,” which focused more on games and skits.
But Colbert found his stride during the 2016 Election Night special on Showtime. After Donald Trump’s unexpected win, Colbert leaned heavily into sharp, topical humor. His ratings rose, and “The Late Show” became one of the most-watched late-night programs on TV.
The question remains: Is CBS really against ratings, or is the cost of producing the show too high in an era when streaming steals viewers away from traditional TV? To fill the empty 12:30 a.m. slot, CBS plans to air reruns of a syndicated comedy roundtable hosted by media entrepreneur Byron Allen. What comes next after “The Late Show” remains unknown.
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