In a stunning announcement, CBS has revealed that The Late Show with Stephen Colbert will end in May 2026—a move coming just days after Colbert criticized a controversial settlement involving former President Donald Trump and CBS’s parent company, Paramount Global.
Colbert, the long-time host and political satirist, broke the news during Thursday night’s broadcast, stating, “I’m not being replaced. This is all just going away,” drawing boos from the studio audience.
While CBS has claimed the cancellation is “purely a financial decision”, many are pointing to the timing as suspicious. Earlier this week, Colbert openly slammed Paramount’s decision to settle a $16 million lawsuit filed by Trump over a 2024 60 Minutes interview with then-Democratic presidential candidate Kamala Harris.
Colbert Called Settlement a “Bribe”
On Monday’s show, Colbert didn’t hold back. He labeled the payout to Trump as a “big fat bribe”, mocking the network’s decision in a scathing monologue.
“I don’t know if anything will repair my trust in this company,” he said, before joking, “but $16 million would help.”
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The lawsuit alleged that CBS intentionally edited the interview to present Harris in a more favorable light. While media watchdogs have dismissed the lawsuit as frivolous and politically motivated, the large payout has drawn criticism for potentially emboldening Trump’s attacks on the press.
Critics Say Cancellation Raises Red Flags
Several press freedom groups and Democratic lawmakers expressed alarm, accusing Paramount of caving to political pressure. Some even speculated that the settlement—and Colbert’s subsequent show cancellation—may be tied to Paramount’s ongoing efforts to secure government approval for its merger with Skydance Media.
The timing has fueled concerns about corporate media’s independence, especially with the 2026 election season drawing closer.
End of an Era
The Late Show has been a late-night staple since 1993. Colbert took the reins in 2015, succeeding David Letterman, and quickly became a leading voice in political comedy—particularly for left-leaning audiences.
Despite its critical acclaim and solid ratings, the show will come to a close without a replacement, according to Colbert. CBS has not announced any plans for a successor program.