Imagine heading into work thinking it’s just another day—only to be told it’s your last season ever.
That’s exactly what happened to The Late Show host Stephen Colbert, who learned just one night before making it public that CBS and Paramount had decided to pull the plug on the iconic show.
He broke the unexpected news on Thursday night, catching fans—and even his live studio audience—completely off guard.
Surprise Announcement at the Ed Sullivan Theater
The evening started like any other, with Colbert opening his show from the legendary Ed Sullivan Theater in New York.
But after what seemed like a normal wrap-up, he threw everyone for a loop by asking the audience to stay for an alternate cold open.
That’s when he dropped the bombshell: “Next year will be our last season.
The network will be ending The Late Show in May.”
As gasps and boos echoed through the room, Colbert clarified it wasn’t just his show being canceled—it was the entire Late Show franchise on CBS coming to an end.
No Replacement—Just a Quiet Goodbye
Colbert stressed that no one was taking over his seat, saying, “I’m not being replaced. This is all just going away.”
Despite the abrupt end, he expressed gratitude for being part of the show’s legacy.
The Late Show originally began back in 1993 with David Letterman, and Colbert took the reins in 2015.
He reportedly started with a salary of $6 million per year, which ballooned to $15 million after renewing his contract in 2019.
His most recent contract, signed in 2023, was supposed to keep him hosting through 2026—but that won’t be happening now.
CBS and Paramount Say It’s Just Business
In a joint statement, executives at CBS and Paramount said the cancellation was purely a financial decision.
They cited a tough economic environment for late-night television—not poor ratings or content.
They called Colbert “irreplaceable” and added: “We are proud that Stephen called CBS home.
He and his broadcast will be remembered in the pantheon of greats that graced late night television.”
Still, the announcement came just days after Colbert delivered a scathing monologue criticizing the network over its $16 million settlement with Donald Trump—which raised a few eyebrows.
Critics Say Colbert’s Comedy Became Too Political
Some conservative voices took the show’s cancellation as no surprise.
Right-wing radio host Buck Sexton accused Colbert of abandoning comedy for politics, writing that the host “deserves the cancellation of his s**** show.”*
Author Joel C. Rosenberg claimed Colbert’s “woke approach” had destroyed the legendary franchise David Letterman built, and Meghan McCain took the opportunity to offer advice to Jimmy Fallon, suggesting he should start welcoming more Republican voices.
Politicians Raise Eyebrows Over Timing
Others weren’t convinced this was all just business.
With CBS’s $8.4 billion merger with Skydance still pending—and needing Trump administration approval—some lawmakers openly questioned whether Colbert’s sudden exit was politically motivated.
Senator Adam Schiff, who happened to be a guest that same night, said the public deserves to know the truth if this was about politics.
Senator Elizabeth Warren and Rep. Pramila Jayapal echoed the same sentiment, asking if free speech was under fire.
Colbert Didn’t Hold Back on CBS
Earlier in the week, Colbert didn’t mince words when addressing his own network’s settlement with Trump, calling it a “big fat bribe.”
He joked about Paramount’s decision, mocking the idea that the allegations were “completely without merit.”
As he quipped, “Keep in mind, Paramount produced Transformers: Rise of the Beast—they know ‘completely without merit.’”
He even faked a satirical CBS statement, saying: “You may take our money, but you’ll never take our dignity.
You may, however, purchase our dignity for $16 million.”
Pressure to Stay Politically Neutral?
Colbert also pointed to an article from Puck claiming that the upcoming merger could pressure him to tone down his political commentary, especially about Trump.
The owner of Skydance, David Ellison, reportedly wants a more neutral tone across CBS programming.
His father, Larry Ellison, is a major Trump donor and is believed to be funding the $8 billion merger.
But Colbert, never one to shy away from satire, brushed it all off—joking that his new mustache would keep him hidden from any pressure the new execs might try to apply.
A Sudden Goodbye for a Late-Night Staple
Whether it was about ratings, politics, or money, one thing’s for sure: The Late Show as we know it will be gone by May 2026.
And while Colbert’s fans may be heartbroken, the host seems determined to go out on his own terms—with humor, honesty, and maybe one last jab at the powers that be.