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9h ago

CBS to End Colbert’s Late Show in 2026 After Citing $40 Million Deficit

Critics say the timing of the cancellation, coming after CBS revealed a $40 million deficit, fuels concerns over political influence in its Skydance merger review.

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Monday night’s episode will be Stephen Colbert’s first since CBS announced the cancellation of "The Late Show" — a fact that will likely result in a ratings surge.

Overview

  • CBS announced The Late Show with Stephen Colbert will conclude in May 2026, bringing the franchise to a close with no successor named
  • CBS said the program was losing over $40 million annually on a budget exceeding $100 million per season, framing the decision as a purely financial one
  • Critics, including CBS staffers and the Writers Guild of America, have urged investigations into possible political motives following Paramount’s $16 million settlement of President Trump’s lawsuit and its pending merger with Skydance
  • Peers such as John Oliver, Jimmy Fallon and Jimmy Kimmel publicly lamented the decision and pledged support for Colbert and his team
  • On July 21, Colbert returned to the air with high-profile guests Sandra Oh and Dave Franco, drawing renewed attention to his final season