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Stephen Colbert's 'The Late Show' to End This Month as CBS Cites Financial Reasons

EntertainmentBusiness5/6/2026
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CBS is ending 'The Late Show with Stephen Colbert' later this month, calling the move a financial decision. The announcement comes as the network's parent company, Paramount, is in the process of being acquired by Skydance, a deal awaiting final regulatory approval.

Facts First

  • 'The Late Show with Stephen Colbert' is ending later this month.
  • CBS stated the cancellation was a 'financial decision'.
  • The announcement was made in July 2025 as parent company Paramount was being acquired by Skydance.
  • The Skydance-Paramount deal is awaiting final approval from the Federal Communications Commission (FCC) and President Donald Trump.
  • Original host David Letterman spoke to The New York Times and released a YouTube interview following the news.

What Happened

CBS announced in July 2025 that 'The Late Show with Stephen Colbert' would end, with the final episode scheduled for later this month. The network stated the decision was a financial one. The announcement coincided with the pending acquisition of CBS's parent company, Paramount, by David Ellison's Skydance, a deal that was awaiting final approval from the Federal Communications Commission (FCC) and President Donald Trump at the time.

Why this Matters to You

If you are a fan of late-night television, you will soon lose a major, long-running program from your viewing options. The cancellation of a flagship show like this may signal broader shifts in network programming and budgets, which could affect the variety and style of entertainment available on traditional broadcast television in the future.

What's Next

The final episodes of 'The Late Show with Stephen Colbert' will air this month, concluding Stephen Colbert's tenure that began in 2015. Following the show's end, CBS will likely announce a replacement program or a new schedule for its late-night slot. The completion of the Skydance acquisition of Paramount could lead to further strategic changes across the company's media properties.

Perspectives

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David Letterman claims the network is being dishonest about its financial justifications and characterizes the decision as 'pure cowardice'. He suggests the cancellation was a strategic move to appease the Trump administration and facilitate the Skydance merger, labeling network representatives as 'lying weasels'.