“This wasn’t just a cancellation… it was a coup” – Stephen Colbert ERA ENDS as CBS SHUTS DOWN top-rated Late Show without warning, while Greg Gutfeld claims the THRONE and laughs off Hollywood’s panic

In a jaw-dropping move that has left the entertainment world reeling, CBS has abruptly ended The Late Show with Stephen Colbert—despite the show’s strong ratings and loyal following. The shock wasn’t just in the decision, but in who’s claiming victory: Greg Gutfeld. Once dismissed as a political oddball, Gutfeld is now basking in the chaos, declaring the era of “scripted smugness” officially over. Sources say the network’s internal tensions had been boiling for months, but no one expected them to cut their most-watched host loose. So what really happened behind the curtain—and why is Gutfeld celebrating while everyone else scrambles?

Watch how the battle for late-night supremacy just took a dark and unexpected turn—full story linked below.

The axing of Stephen Colbert‘s Late Show has been received as a death knell for late-night television – but there’s still time for one more rising star before the world of cable TV is eclipsed by TikTok, YouTube, and Instagram reels.

CBS and its parent company, Paramount, announced that Colbert’s show would ‘end its historic run’ in May 2026, just over a decade after it first launched, as it hemorrhaged $40 million per year.

‘We consider Stephen Colbert irreplaceable and will retire the Late Show franchise at that time,’ the broadcast executives said.

‘We are proud that Stephen called CBS home. He and his broadcast will be remembered in the pantheon of greats that graced late night television.’

In fact, Colbert, 61, had the best current ratings of all the traditional late-night 11.35pm show hosts before he got the chop.

The veteran presenter attracted 2.42 million viewers across 41 first-run episodes – easily outpacing ABC’s Jimmy Kimmel Live! which had 1.77 million, and NBC’s The Tonight Show Starring Jimmy Fallon which had 1.19 million, per LateNighter.

According to the TV specialist news site, the Late Show was the only one among nine mainstream programs tracked which drew more viewers in the second quarter of 2025 than the first, with a small audience growth of one percent.

So it’s no wonder that Colbert’s axing has got other left-leaning hosts shaking in their boots.

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The axing of Stephen Colbert’s Late Show has been received as a death knell for late night television – but there’s still time for one more rising star before the world of cable TV is eclipsed by TikTok, YouTube, and Instagram reels. (Pictured: Colbert hosting the show in July)

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Late-night show host Jimmy Kimmel (pictured) blasted CBS for axing Colbert’s program

Reaction to the show’s axing… 

Kimmel, 57, blasted CBS via his Instagram stories. He reposted Colbert’s announcement with the caption: ‘Love you Stephen. F**k you and all your Sheldons CBS.’

Late night talk show host Andy Cohen, 57, also said he was ‘stunned’ by the news.

‘I can’t believe CBS is turning off the lights at 11:30 after the local news. I’m stunned. He’s one of three late-night shows deemed worthy enough for an Emmy nomination. He produces a brilliant show,’ he told Deadline.

‘I think it’s a sad day for late-night television. I think it’s a sad day for CBS. I think Stephen Colbert is a singular talent. He’s going to have an incredible next chapter.’

The show’s axing followed the cancelation of The Late Late Show with James Corden on CBS in April 2023, and Trevor Noah’s The Daily Show the previous year.

While it’s likely that Colbert’s demise could spark a bonfire of late-night shows like Kimmel’s and Cohen’s as the younger generation turns to TikTok over TV, there’s also an unlikely rising star still attracting viewers to the small screen.

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Greg Gutfeld on Fox News has been disrupting the TV genre once monopolized by the likes of Colbert, and Seth Meyers, whose Late Night with Seth Meyers show on NBC reigns supreme for post-midnight ratings. Gutfeld! airs at 10pm and attracts the Fox’s faithful viewers

An unlikely conservative star of late-night TV?  

Greg Gutfeld on Fox News has been disrupting the TV genre once monopolized by the likes of Colbert, and Seth Meyers, whose Late Night with Seth Meyers show on NBC reigns supreme for post-midnight ratings.

Gutfeld! dominated late-night TV ratings in the second quarter of 2025 with an average of three million viewers.

This comes with a caveat that the show starts 95 minutes earlier than Colbert’s, filling Fox News’ 10pm slot, and attracts many of the right-wing network’s faithful viewers who watch the network for several hours a day.

But it’s not all down to timings and Fox’s following – as Gutfeld attracted a key demographic among the smartphone generations who are being lost to podcasts and online media.

The show was watched by 365,000 people aged between 25 and 54 in the second quarter of 2025, according to MSN.

Gutfeld! has a similar structure to the other late shows, with a monologue, roundtable, recurring gags, and rotating co-hosts, but behind the scenes it’s a very different story.

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CBS and its parent company, Paramount, announced that Colbert’s show would ‘end its historic run’ in May 2026, just over a decade after it first launched

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Colbert attracted 2.42 million viewers across 41 first-run episodes – easily outpacing NBC’s The Tonight Show Starring Jimmy Fallon (pictured) which had 1.19 million, per LateNighter

The show reportedly runs off a creative team of around 20 people, according to Mediate, making it more authentic than its polished, liberal competitors.

As a result, it attracts viewers who wanted real talk over highly-scripted mainstream comedy.

Other shows which seem to be faring relatively well in the fragile TV industry also have slightly different formats – including the weekly Last Week Tonight with John Oliver.

The Late Show was also beleaguered by Trump’s threats to sue his network, while Fox News enjoyed a post-election boom.

The political context to Colbert’s show being axed…  

Colbert’s program was cancelled just days after the host blasted the network’s $16 million settlement with President Trump as a ‘big fat bribe.’

Taking aim at CBS and Paramount Global, Trump’s lawsuit accused producers of editing an October interview with Harris to sway public opinion in her favor.

The broadcast channel is also facing a probe by the Federal Communications Commission (FCC) into whether the interview violated ‘news distortion’ rules.

Complainants said the station broke the law by cherry picking only a portion of Harris’ answer to a question about Middle East policy to present her in a favorable light.

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Gutfeld has been disrupting the TV genre once monopolized by the likes of Seth Meyers (pictured), whose Late Night with Seth Meyers show reigns supreme for post-midnight ratings

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Taylor Tomlinson (pictured) made her debut as the only current female late night talk show host on Tuesday with the premiere of After Midnight on CBS in January 2024

Trump’s lawsuit coincided with a planned $8.4 billion merger between Paramount and Skydance, which requires approval from the FCC.

Though the agency is prohibited from censorship or infringing the First Amendment rights of media, broadcasters cannot intentionally distort the news.

CBS previously said the complaint aims to turn ‘the FCC into a full-time censor of content’ which would result in an unconstitutional role and an impossible one for the agency.

In January, the FCC’s chair Brendan Carr reinstated complaints about the 60 Minutes interview with Harris, as well as complaints about how Walt Disney’s ABC News moderated the pre-election TV debate between then-President Joe Biden and Trump.

It also reinstated complaints against Comcast’s NBC for allowing Harris to appear on ‘Saturday Night Live’ shortly before the election.