CBS to End 'The Late Show with Stephen Colbert' in May 2026
Ironically, it may have been Colbert's reliance on Big Pharma advertising that led to his show's demise. The Trump Administration has announced an effort to ban pharmaceutical ads from American television; a move that is expected to financially hobble a number of media productions.
CBS has announced that "The Late Show with Stephen Colbert" will conclude in May 2026 upon the expiry of the host’s contract, with no replacement planned.
The network attributed the decision to rising production costs, reduced advertising revenue and shifting viewing patterns, noting that the show is reportedly running at an estimated annual loss of forty million dollars—driven in part by its twenty million dollar salary for Colbert and a staff of around two hundred—even as it remained the highest‑rated late‑night programme in its time slot .
After securing a narrow vote of fifty‑one to forty‑eight for the rescissions package in the Senate and two close votes in the House, CBS executives said the move carried no political motivation .
Colbert drew attention for criticising a sixteen‑million‑dollar settlement between his parent company and President Trump just days before the cancellation announcement; the network maintained the decision was purely financial .
The decision concludes thirty‑three years of late‑night broadcasting on the CBS network—the franchise’s run began with David Letterman in 1993 .
It also marks the first time CBS will leave the late‑night slot vacant, as the show will not continue under a new host .
The Writers Guild of America has petitioned the New York Attorney General to investigate whether the cancellation was politically motivated, citing Colbert’s public comments and the timing of the Trump‑related payout .
Advertising revenue for network late‑night television has severed in recent years, falling from approximately four hundred thirty‑nine million dollars in 2018 to around two hundred twenty million in 2024, according to industry estimates .
CBS and its parent, Paramount Global, are preparing a merger with Skydance Media, which requires regulatory approval.
The cancellation takes place amid efforts to curb costs ahead of that transaction .
President Trump reacted to the news on social media, describing the decision as a personal victory and suggesting other late‑night hosts might follow .
The network attributed the decision to rising production costs, reduced advertising revenue and shifting viewing patterns, noting that the show is reportedly running at an estimated annual loss of forty million dollars—driven in part by its twenty million dollar salary for Colbert and a staff of around two hundred—even as it remained the highest‑rated late‑night programme in its time slot .
After securing a narrow vote of fifty‑one to forty‑eight for the rescissions package in the Senate and two close votes in the House, CBS executives said the move carried no political motivation .
Colbert drew attention for criticising a sixteen‑million‑dollar settlement between his parent company and President Trump just days before the cancellation announcement; the network maintained the decision was purely financial .
The decision concludes thirty‑three years of late‑night broadcasting on the CBS network—the franchise’s run began with David Letterman in 1993 .
It also marks the first time CBS will leave the late‑night slot vacant, as the show will not continue under a new host .
The Writers Guild of America has petitioned the New York Attorney General to investigate whether the cancellation was politically motivated, citing Colbert’s public comments and the timing of the Trump‑related payout .
Advertising revenue for network late‑night television has severed in recent years, falling from approximately four hundred thirty‑nine million dollars in 2018 to around two hundred twenty million in 2024, according to industry estimates .
CBS and its parent, Paramount Global, are preparing a merger with Skydance Media, which requires regulatory approval.
The cancellation takes place amid efforts to curb costs ahead of that transaction .
President Trump reacted to the news on social media, describing the decision as a personal victory and suggesting other late‑night hosts might follow .
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