The Late Show with Stephen Colbert is set to end in May 2026, according to CBS, who announced the decision as a financial move amid tough late-night TV dynamics. The cancellation follows a lawsuit settlement involving former President Trump and is not linked to the show's performance, CBS clarifies. The audience reacted with dismay as Colbert shared the news during a taping, expressing gratitude to fans while acknowledging the show's conclusion signifies the end of the CBS late-night legacy. CBS has proudly stated Colbert is irreplaceable, as networks confront challenges attracting younger audiences in a digital age dominated by streaming services and podcasts. The hosting landscape will remain competitive, with rival networks continuing their established late-night shows.