The network has called the cancellation “a purely financial decision”—but it feels like only the beginning of the end for an entire genre.

CBS is axing “The Late Show With Stephen Colbert” in May 2026, the host told an audience at a taping Thursday. The announcement came three days after Colbert spoke out against Paramount Global, parent company of CBS,

CBS, in announcing the cancellation of "The Late Show with Stephen Colbert," has called the move a "purely financial decision."