Stephen Colbert’s run on The Late Show is set to wrap up in May 2026 after an impressive 33 years on CBS. The decision, announced by the network, was described as a financial move amid ongoing challenges in the late-night landscape. Colbert shared the news during a live taping, prompting audible disappointment from the audience.

Reflecting on the show's journey, he expressed his gratitude to CBS and the loyal viewers who tuned in nightly. Colbert's tenure began in 2015 when he succeeded David Letterman, during which he fiercely critiqued former President Donald Trump and often hosted prominent Democratic figures.

Although Colbert didn’t hint at ongoing political motivations behind the cancellation, questions have emerged regarding a recent $16 million lawsuit settlement with Trump that coincided with the show's ending. Senators Adam Schiff and Elizabeth Warren voiced concerns about potential political pressures influencing CBS's decision.

The cancellation marks a significant shift for CBS, which has maintained a late-night show since The Late Show's inception in 1993. Competing networks ABC and NBC continue their respective late-night programming.

Colbert’s departure has elicited heartfelt reactions from colleagues and fans, who praised his contributions to late-night television and voiced sadness over the show’s conclusion. The next ten months are expected to be an emotional farewell as Colbert wraps up his legacy in late-night comedy.