In a wholesale late-night talk show change, CBS is exiting the space with the cancellation of the Late Show With Stephen Colbert, sunsetting the franchise that launched in 1993 with David Letterman as host.

CBS said it planned to cancel Stephen Colbert's Late Show after next season, citing the weakening finances of late night

The network claimed it was “purely a financial decision.” “We consider Stephen Colbert irreplaceable and will retire ‘The Late Show’ franchise in May of 2026,” CBS executives’ statement read. “We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television.”

Comedian Stephen Colbert hosted the satirical ‘The Colbert Report’ before taking over ‘The Late Show’ in 2015. Read about his shows, wife, net worth, and more.

Stephen Colbert took viewers by surprise this week when he announced The Late Show would be heading for the big TV schedule in the sky. The long-running series, which he has hosted since 2015, will leave screens next May.

"The Late Show" will end next May, marking the end of an era, CBS announced. The show has been a late-night staple since 1993. It was hosted by David Letterman until Stephen Colbert took over in 2015.