Financial struggles plagued Stephen Colbert's late show as it met its demise.
CBS Announces Cancellation of Stephen Colbert's Late-Night Show
In a surprising turn of events, CBS has announced the cancellation of The Late Show with Stephen Colbert, set to take place in May 2026. The decision, made by CBS and its parent company Paramount, is purely a financial one, driven by the challenging late-night TV landscape.
According to reports, the cancellation is not due to the show's performance, content, or any internal matters at Paramount. Stephen Colbert himself informed the show's audience during a taping, expressing gratitude for the opportunity and acknowledging his irreplaceable role in CBS's late-night lineup.
The merger between Paramount and Skydance, a deal that received approval from President Trump's regulators, could be a contributing factor to the cancellation. The Colbert show, known for its high overhead and staff, has been losing more than $40 million to $50 million annually, making it a significant financial burden.
The cancellation could help push the Paramount-Skydance deal through the FCC review process with a few conditions. The FCC review includes an examination of whether CBS shows consistent left-wing bias in their news programming, a concern raised by a conservative legal group, The Center For American Rights.
Other factors influencing the decision include the show's steadily eroding ratings and the difficulty in securing advertising due to its political content and Colbert's high salary. Despite this, Colbert will remain on the show until its official cancellation next May.
The Ellisons, who are set to run Paramount and CBS, have vowed to produce unbiased news, hire an ombudsman to monitor their programming, and scale back controversial DEI policies in hiring. Additionally, Skydance has promised to provide tens of millions more in pro-MAGA public service ads.
In a recent development, Paramount paid $16 million to settle a lawsuit brought by Donald Trump over a controversial "60 Minutes" interview with Kamala Harris. Trump is also expected to receive $20 million in ads from Skydance.
In response to the show's impending demise, Colbert used profanity to attack President Trump during Monday's show. Skydance, however, declined to comment on the decision to end Colbert's show, stating that the decision was solely up to Paramount.
The Center For American Rights wrote to the FCC about its concerns over how CBS allegedly imposes burdensome financial demands on local affiliates. This is an ongoing issue that the FCC is expected to address as part of its review.
As the cancellation of The Late Show with Stephen Colbert approaches, fans and industry insiders alike are reflecting on Colbert's impact on late-night television and the future of CBS's late-night lineup.
[1] CBS Press Release, "CBS Announces The Late Show with Stephen Colbert to End in May 2026", 1st January 2026.
- The cancellation of Stephen Colbert's show, The Late Show with Stephen Colbert, is a financial decision driven by the challenging late-night TV landscape and the show's substantial financial burden.
- The media landscape is reflecting on Stephen Colbert's impact on late-night television as the impending demise of his show approaches.
- The CBS-Paramount merger, coupled with Skydance's deal, could help expedite the FCC review process, with conditions regarding unbiased news and pro-MAGA public service ads.
- The Colbert show, known for its political content and high overhead costs, has been losing more than $40 million to $50 million annually, contributing to its cancellation.
