What Happened to the Stephen Colbert Show?
On July 17, 2025, Stephen Colbert delivered a heartfelt announcement during the taping of "The Late Show": CBS will end the iconic late-night program in May 2026. This move doesn't just mark the end of Colbert's tenure—it retires "The Late Show" franchise after 33 years, including 11 years with Colbert and 22 years with David Letterman.
Colbert acknowledged the show’s loyal viewers, his team, and the opportunity he described as “a fantastic job”. He will continue to host through the show’s final broadcast.
Why Is the Stephen Colbert Late Show Being Cancelled?
CBS’s Official Reason: Financial Decision
CBS describes the cancellation as "purely a financial decision against a challenging backdrop in late night," unrelated to the show’s ratings, Colbert’s content, or ongoing controversies at parent company Paramount. The broader late-night landscape has shifted, with declining advertising revenue and viewership across linear television leading major networks—including CBS, which previously axed "The Late Late Show"—to reconsider costly late-night productions.
“We consider Stephen Colbert irreplaceable and will retire The Late Show franchise... 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.” – CBS Executives
Late Night Show Ratings: Where Did Colbert Stand?
Despite its cancellation, "The Late Show with Stephen Colbert" remains the dominant force in late-night television:
2025 Q2 Viewership: Averaged 2.4 million total viewers (including DVR replays).
2025 Average: 2.03 to 2.41 million viewers across 41 new episodes—leading the late-night field.
The show was the only one to see year-over-year growth in audience in 2025.
Consistently beat Jimmy Kimmel Live! (ABC, 1.8M) and The Tonight Show Starring Jimmy Fallon (NBC, 1.2M).
Held the title of highest-rated late-night talk show for nine straight seasons since 2016
| Late Night Host | Network | Average 2025 Viewers (Q2) |
|---|---|---|
| Stephen Colbert | CBS | 2.4 million |
| Jimmy Kimmel | ABC | 1.8 million |
| Jimmy Fallon | NBC | 1.2 million |
When Did Stephen Colbert Start 'The Late Show'?
Stephen Colbert began hosting "The Late Show" on September 8, 2015, taking the torch from David Letterman. Over 11 seasons, Colbert transformed the 33-year-old CBS flagship program with a blend of sharp political satire, interviews, and live music, aided by his Peabody Award-winning team and the beloved Ed Sullivan Theater.
| Host | Years | Notable Facts |
|---|---|---|
| David Letterman | 1993–2015 | Original CBS Host, 22 years |
| Stephen Colbert | 2015–2026 | Satirical, political edge, 11 years |
Who Will Replace Colbert?
No one.
CBS has announced that the entire "Late Show" franchise will be retired and “Colbert is considered irreplaceable”. The network will not seek a new host, and the end of Colbert's run in May 2026 marks the end of the program itself, mirroring the recent end of other network late-night shows.
What’s Next for Stephen Colbert?
Colbert’s next steps remain unannounced, but industry observers expect him to be aggressively courted by networks and streaming platforms such as Netflix, Amazon, and possibly Comedy Central, where he could return in some capacity to "The Daily Show," especially as Jon Stewart’s contract concludes in late 2025.
Given Colbert's star power and creative freedom desires, streaming is seen as his likeliest landing spot.
FAQ
Question 1: Was 'The Late Show' cancelled because of low ratings?
Answer: No. The show was the highest-rated late-night talk show in the US for several years. CBS said the decision was entirely financial.
Question 2: Did politics play a role in the cancellation?
Answer: Officially, CBS denies political reasons. However, speculation continues, especially after Colbert's criticism of Paramount’s settlement with Donald Trump and the network’s merger ambitions.
Question 3: What will replace 'The Late Show'?
Answer: Nothing. CBS is not hiring a new host and is retiring the franchise, ending its participation in the late-night space entirely
Disclaimer:
The information provided in this article is based on publicly available sources as of July 17, 2025. CBS has confirmed the cancellation of "The Late Show with Stephen Colbert," citing financial reasons. The show’s end in May 2026 will mark the conclusion of the entire "Late Show" franchise. All views, opinions, and speculations included in this article are based on current reports and industry analyses, which may evolve over time. The content of this article may be subject to change as new developments unfold.
