'The Late Show' concluded its 33-year run on CBS with Stephen Colbert hosting the final episode on May 21, 2026 [1, 2, 3, 4]. Colbert, who succeeded David Letterman in September 2015, had hosted over 1,800 episodes during his 11 years as the show's anchor [5, 1, 2, 4].
CBS announced the cancellation in summer 2025, citing financial pressures amid a challenging late-night market and corporate strategy [5, 1]. The decision coincided with Paramount, CBS’s parent company, seeking government approval for its $8.4 billion merger with Skydance Media in early May 2026 [1, 6, 3, 4]. CBS maintained the cancellation was purely financial and unrelated to politics [5, 1, 6, 2, 3]. However, many observers and Colbert himself suggested political pressure played a role due to his outspoken criticism of former President Donald Trump [1, 6, 2, 7, 8, 9].
Colbert publicly mocked CBS over a $16 million lawsuit settlement with Trump, which arose from allegedly malicious editing of a Kamala Harris interview, calling it a "big fat bribe" [1, 6, 3, 4]. Trump celebrated the show's cancellation on social media, calling Colbert "a total jerk" and expressing relief at his departure [6, 2, 4]. The White House disparaged Colbert, branding him "a pathetic trainwreck with no talent" [2]. Bruce Springsteen, a guest on the finale, said, "You’re the first guy in America who’s lost his show because we’ve got a president who can’t take a joke" [1].
The final episode featured celebrity guests Paul McCartney, Paul Rudd, Ryan Reynolds, Bryan Cranston, and Bruce Springsteen [2, 3, 4]. McCartney performed "Hello, Goodbye" with Colbert to mark the occasion [3, 4]. Colbert delivered an emotional farewell, thanking viewers for their support and reflecting on the 11-year run, saying, "The energy that you’ve given us, we sincerely need that to have done the best possible show we could have for you for the last 11 years. You’ve given it to us. We’ve given it all right back to you" [4].
Fellow late-night hosts Jimmy Fallon, Jimmy Kimmel, Seth Meyers, and John Oliver publicly paid tribute to Colbert in the days leading up to the final episode [1, 2]. Some hosts joked about potential political pressures and FCC threats affecting late-night comedy, referencing Trump administration actions to silence critics [7, 8, 9]. Fox's conservative-leaning 'Gutfeld!' show, which received praise from Trump, airs earlier and features fewer jokes about him [7, 8, 9].
Colbert began hosting 'The Late Show' in September 2015 after David Letterman’s 33-year tenure [5, 1, 2]. The final episode aired on May 21, 2026, drawing a marked end to one of late night television’s longest-running programs [1, 2, 3, 4].
