In a major shakeup for late-night television, CBS announced that The Late Show with Stephen Colbert will be coming to an end in May 2026. The cancellation of the program, which has become a staple of late-night TV since Colbert took over in 2015, marks the end of an era for CBS and raises questions about the future of the network’s late-night programming. While CBS hasn’t fully explained the reasoning behind the decision, industry insiders point to a combination of factors, including declining late-night ratings and CBS parent company Paramount’s need for cost-cutting measures.

The End of The Late Show Franchise

Colbert’s late-night career has been highly successful, but the decision to cancel The Late Show comes amid broader changes in the TV industry. With shifting viewer habits and the rise of streaming services, traditional late-night programming has faced challenges, including reduced ad revenue. Paramount’s restructuring efforts have put pressure on CBS to rethink its approach to late-night television.

As Colbert’s iconic show reaches its final season, viewers have taken to social media to express their disbelief, with hashtags like “#StephenColbertCancelled” and “#ColbertShowEnding” trending across platforms. Colbert’s departure raises questions about what will replace the Late Show on CBS, as the network considers a potential shift toward a digital-first or streaming-based late-night model.

Stephen Colbert’s Salary and CBS Contracts

Throughout his tenure at CBS, Colbert has enjoyed a remarkable rise in both popularity and earnings. When he first took over The Late Show in 2015, Colbert’s salary was reported to be $6 million per year. However, after several years of success and the show becoming a late-night leader, Colbert secured a significant raise. In 2019, CBS renewed his contract, bumping his salary to $15 million annually.

His 2023 three-year contract extension ensured that he would remain the host of The Late Show until 2026. The cancellation of the show, therefore, comes as a surprising development, especially considering Colbert’s immense success in late-night TV. As of 2025, Colbert’s net worth is estimated at $75 million, according to CelebrityNetWorth.com. His wealth comes not only from his work on The Late Show but also from his earlier roles on The Colbert Report and The Daily Show, as well as his career in comedy, acting, and writing.

Colbert’s Legacy: Political Satire and Comedy Icon

Stephen Colbert has built an impressive career as a comedian, actor, writer, and political satirist. He gained national fame as a correspondent on The Daily Show with Jon Stewart, before launching The Colbert Report, a show that parodied right-wing media and earned him widespread acclaim. When Colbert moved to The Late Show in 2015, he shifted the focus of the program to include political commentary, sharp monologues, and humor aimed at the Trump administration.

As one of the most vocal critics of former President Donald Trump on television, Colbert became a significant figure in political satire. His nightly monologues, which dissected the political landscape with humor and insight, helped him capture the attention of millions of viewers. Colbert’s ability to blend intellectual humor with entertainment made him one of the most respected voices in American comedy.

In addition to his TV work, Colbert has written bestselling books, performed on Broadway, and voiced characters in animated shows like The Venture Bros. and films like Monsters vs. Aliens. His diverse talents and blend of wit, satire, and sincerity have solidified his place as a leading figure in modern American comedy.

The Future of CBS Late Night

The end of The Late Show with Stephen Colbert raises several questions about the future of CBS’s late-night programming. As Colbert’s show concludes, CBS faces the challenge of what to replace it with, if anything. Some reports suggest that CBS may be exploring a digital-first model, adapting to the changing viewership habits that favor streaming services over traditional cable programming. The rise of platforms like Netflix, Hulu, and YouTube has dramatically shifted how late-night content is consumed, and CBS may be looking to pivot to stay competitive in an evolving landscape.

The cancellation of Colbert’s show also follows the end of The Late Late Show with James Corden, which was canceled in 2023. The trend of cutting back on traditional late-night shows at CBS signals a possible retreat from the format altogether. As networks adjust to the streaming era, late-night television as we know it may undergo significant transformation, with a focus on more cost-effective, on-demand content rather than expensive, traditional talk shows.

The End of Colbert’s Late-Night Reign: A Legacy to Remember

Despite the cancellation, Colbert’s legacy in late-night television is undeniable. His ability to shape the cultural conversation with humor, his impeccable political insight, and his ability to engage with both his audience and guests made The Late Show a powerhouse for CBS. His influence has transcended the late-night genre, with his impact on American political satire and television comedy solidifying his place in TV history.

Colbert’s show became especially important during the Trump years, as his biting political commentary resonated with millions of viewers who were looking for a voice that would stand up to the former president. His commentary helped define the tone of late-night television in the 21st century, and his unique perspective on politics and culture helped shape the national conversation.

What’s Next for CBS and Late-Night TV?

With Colbert’s show coming to an end, CBS faces a significant decision in how to approach late-night television moving forward. While the future of the Late Show franchise may be uncertain, one thing is clear: Colbert’s influence on the genre will continue to be felt for years to come. His ability to engage with complex political topics while maintaining his signature comedic touch set a high standard for future late-night hosts.

The cancellation of The Late Show signals a shift in the television landscape, but it also raises important questions about the direction of late-night TV. As networks like CBS re-evaluate their programming strategies, the future of late-night television may involve more digital content and streaming options—platforms that are more aligned with the habits of today’s viewers.

For Stephen Colbert, the future is still uncertain, but his legacy as a trailblazer in late-night television is secure. His impact on comedy and political satire will endure, and whatever his next move may be, it is certain to keep him in the public eye.

Conclusion: A New Era for Late-Night TV

Stephen Colbert’s Late Show may be ending in 2026, but the reverberations of this decision will be felt far beyond the final episode. Whether the future of late-night television will continue to feature voices like Colbert’s or pivot to new forms of content remains to be seen. But for now, Colbert’s time at CBS is coming to a close, and with it, a chapter of late-night television history will come to an end. How the landscape will evolve after his departure is anyone’s guess, but one thing is certain: Colbert’s influence on the genre will not be easily replaced.