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.

On Thursday, CBS announced that it was cancelling the long running The Late Show with Stephen Colbert. The cancellation news came just days after Stephen Colbert, a critic of Donald Trump, called out Paramount, the parent company of CBS, over its $16 million settlement with the president.

“Before we start the show, I want to let you know something that I found out just last night. Next year will be our last season. The network will be ending the ‘Late Show’ in May,” Colbert said in the clip, as the audience booed. “And, yeah, I share your feelings. It’s not just the end of our show, but it’s the end of ‘The Late Show’ on CBS.”