CBS to End ‘The Late Show With Stephen Colbert’ After 2025 Season

In a move that stunned late-night television fans and comedy lovers alike, CBS has announced that The Late Show With Stephen Colbert will be canceled after its next season ends in May 2025. The network confirmed the decision Thursday, citing financial reasons behind the abrupt call. After a run that began in 2015 and helped redefine late-night satire, Stephen Colbert’s chapter — and The Late Show franchise itself — will officially close next spring.

Why is CBS canceling ‘The Late Show’ now?

According to CBS executives, this decision has nothing to do with ratings or creative direction. In fact, the network praised Colbert and his team, saying they continue to deliver top-tier entertainment.

“This is purely a financial decision against a challenging backdrop in late night,” said CBS President George Cheeks, who also serves as co-CEO of Paramount, the network’s parent company. “It is not related in any way to the show’s performance, content, or other matters happening at Paramount.”

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But not everyone is convinced. The announcement comes at a turbulent time for Paramount, which is finalizing a multibillion-dollar merger with Skydance, the Hollywood studio run by David Ellison. The deal still requires approval from the FCC and other regulatory agencies.

Fueling speculation, the announcement followed shortly after CBS reached a $16 million settlement with Donald Trump. The payment was tied to a lawsuit regarding a “60 Minutes” interview, which Colbert had previously mocked on air as “a big fat bribe.” While CBS insists the cancellation is unrelated, the timing has raised eyebrows.

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What did Colbert say about the cancellation?

Stephen Colbert broke the news to his audience during Thursday night’s taping. The crowd’s reaction was immediate — loud boos echoed across the studio.

“Yeah, I share your feelings,” Colbert responded.

He didn’t elaborate much more. There were no drawn-out monologues or extended goodbyes. Just a short acknowledgment and a thank-you to his team and viewers. It was classic Colbert — dry, smart, and emotionally controlled.

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Sources close to the show say he was told just the night before. Many of his longtime staffers and writers were also caught off guard.

Colbert’s departure will mark the end of a distinct late-night voice. Known for his sharp political humor and quick wit, he brought a unique balance of satire and sincerity that made his show a must-watch — especially during politically intense times.

What does this mean for late-night television?

It’s not just the end of a show. It’s the end of a cultural era.

The Late Show has been on air since 1993, first hosted by David Letterman, then taken over by Colbert in 2015. Under Colbert’s lead, it became the highest-rated late-night program, even outpacing Jimmy Fallon and Jimmy Kimmel during major news cycles.

But in recent years, late-night shows have faced major challenges. Viewership is down. Ad revenue has dipped. And the rise of streaming has shifted how audiences consume comedy. Younger viewers are more likely to watch short clips on YouTube or scroll through comedy bits on TikTok than stay up until 11:30.

Executives across networks are taking a hard look at budgets. And The Late Show, despite its legacy and loyal fanbase, couldn’t escape the broader cuts.

As of now, CBS hasn’t announced what will replace the 11:30 slot after Colbert signs off. There’s no word on a successor or whether the network will launch a new show or give the time back to local affiliates.

Is this really the end for Stephen Colbert?

Not necessarily.

While the current contract ends in May 2025, and he won’t return to The Late Show, there’s no indication that Colbert is stepping away from entertainment altogether.

He still has deals with CBS Studios. He’s a producer. He’s involved in multiple projects behind the scenes. And with streaming platforms hungry for talent, Colbert won’t be short on offers.

But even so, the idea of no Colbert at 11:30 p.m. on weeknights feels strange for millions who have tuned in for nearly a decade. His thoughtful monologues, hilarious political sketches, and warmth during interviews helped The Late Show become more than just a comedy hour. It became part of the daily conversation.

For now, fans still have one more season left. And knowing Colbert, he’ll make every episode count.