Overview

• CBS will retire The Late Show with Stephen Colbert in May 2026, concluding a 32-year franchise that began with David Letterman.
• CBS president George Cheeks said the advertising market’s steady decline and unsustainable production costs drove the economic decision.
• The cancellation follows Paramount’s $16 million settlement with President Trump and FCC approval of the $8.4 billion Skydance–Paramount merger, fueling allegations of political appeasement.
• President Trump celebrated Colbert’s departure on Truth Social and warned that Jimmy Fallon and Jimmy Kimmel could be next to lose their shows.
• CBS and its new Skydance owners plan to refocus on primetime and sports as they navigate broader late-night financial challenges.