Overview
- David Letterman used his guest spot to lampoon CBS and cap the visit with a rooftop stunt that sent Late Show couches and Colbert’s chair crashing onto a giant CBS logo.
- The Late Show with Stephen Colbert signs off at 11:35 p.m. ET on Thursday, May 21, with rival hosts Jimmy Fallon and Jimmy Kimmel planning no new episodes that night.
- CBS maintains it canceled the show for financial reasons and has cited reported annual losses near $40 million, while critics link the move to Paramount’s Skydance deal and President Trump’s public cheers for Colbert’s ouster.
- Starting May 22, Byron Allen’s Allen Media Group takes the 11:35 p.m. slot with Comics Unleashed, followed by Funny You Should Ask at 12:35 a.m., under a time-buy model where Allen pays for the airtime and sells the ads.
- Colbert’s farewell run has featured high-profile guests including Barack Obama, Tom Hanks, Julia Louis-Dreyfus, and fellow late-night hosts, underscoring his role as a leading political voice for many viewers.