CBS will end "The Late Show with Stephen Colbert" and retire "The Late Show" franchise in May 2026, the company announced Thursday, calling it "purely a financial decision against a challenging backdrop in late night.

Colbert announced Thursday, July 17 that the show is "going away" in May 2026. Colbert clarified that he's not just being replaced, but CBS is ending the show altogether. Paramount has said the news is "purely a financial decision." The longtime talk show host shared the news with his studio audience ahead of the show, leaving fans disappointed.

The Late Show with Stephen Colbert will end in May 2026 after 33 years on air, the CBS television network announced in a surprise statement on Thursday. The move "is purely a financial decision against a challenging backdrop in late night [television]," and "is not related in any way to the show's performance, content or other matters," CBS said.