Was ‘The Late Show With Stephen Colbert’ Canceled? Why It’s Ending – Hollywood Life

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Stephen Colbert will no longer host The Late Show. Following the network’s shocking $16 million settlement against Donald Trump, CBS announced that The Late Show with Stephen Colbert is ending next year. As fans of the late-night comedy show grapple with the news, many are wondering if the show was canceled. Above all, viewers are asking the same question: why is Stephen’s late-night show coming to an end?

Below, Hollywood Life has a breakdown of why The Late Show with Stephen Colbert is ending.

Was The Late Show With Stephen Colbert Canceled?

Yes, CBS is canceling The Late Show franchise after more than three decades on the air. Stephen took over the show in 2015, and it was originally hosted by David Letterman.

When Is The Late Show With Stephen Colbert Ending?

The Late Show will end in May 2026, CBS executives announced on July 17, 2025.

Why Is The Late Show With Stephen Colbert Ending?

CBS decided to gut The Late Show with Stephen Colbert due to financial reasons, network executives explained in a statement released on July 17, 2025, obtained by Variety.

“We consider Stephen Colbert irreplaceable and will retire The Late Show franchise in May of 2026,” CBS executives said. “We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television.”

The unnamed executives added, “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.”

The merger between Paramount Global — the parent company of CBS —  and Skydance Media is expected to close this year.

Is Stephen Colbert Leaving The Late Show?

It doesn’t appear that Stephen left The Late Show voluntarily, based on multiple reports about CBS’ decision to ax the comedy series. Per Variety, the comedian was informed of the network’s decision on July 16, 2025, and he informed the audience at the next episode’s taping.

The Late Show isn’t the only late-night series to be canceled by CBS. Earlier this year, After Midnight featuring comedian Taylor Tomlinson was taken off the air.

What Is Stephen Colbert’s Late Show Salary?

Stephen is reported to have made a salary of around $15 million per year with CBS while hosting The Late Show.