On July 17, 2025, CBS announced it will end The Late Show with Stephen Colbert in May 2026 due to financial pressures. That evening, Colbert addressed the cancellation live, pledging one final season and expressing gratitude to his team and audience.
Industry Rallies Behind Colbert
Celebrities and late-night peers quickly voiced support:
Jimmy Fallon said he was “shocked” and called Colbert “one of the sharpest, funniest hosts”.
Jimmy Kimmel criticized CBS directly, posting an explicit condemnation across social media.
Seth Meyers and John Oliver expressed admiration—Meyers praised Colbert’s character, while Oliver looked forward to his final ten months on air.
Ben Stiller, Rachel Zegler, Adam Scott, Judd Apatow, Jon Batiste, and Andy Cohen joined the chorus of emotional farewells.
Political Shadow and Corporate Motives
Colbert’s outspoken criticism of CBS parent Paramount—particularly its $16 million settlement with Donald Trump—prompted speculation that politics, not finances, motivated the cancellation.
Senator Elizabeth Warren, Senator Bernie Sanders, and Rep. Adam Schiff questioned whether the decision was influenced by political pressure amid Paramount’s pending merger approval.
Fox News host Howard Kurtz accused CBS of appeasing Trump to secure regulatory approval.
Conversely, Keith Olbermann dismissed the political theory, noting that allowing Colbert to broadcast another full year contradicted claims of ideological bias.
Trump Celebrates — and Threatens Other Hosts
Donald Trump gleefully celebrated on Truth Social, calling Colbert “fired” and suggesting Jimmy Kimmel could be next. He also criticized Jimmy Fallon negatively .
A Diminishing Late-Night Landscape
CBS cited annual losses of around $40 million and declining ad revenues as key factors. The network’s exit from late-night marks a significant shift in an industry hit by shrinking viewership and streaming competition.
Final Takeaway
Although CBS framed the cancellation as a financial decision, many see deeper issues—political influences, corporate strategy, and the changing media scene. Whatever the true reasons, the late-night landscape has lost a major voice.