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CBS Axes Colbert's Late Show, May 2026, Citing Finances

4/28/2026

Summary

Colbert Show Ends

CBS announced The Late Show with Stephen Colbert will end in May 2026, citing finances.
Analysts speculate the decision may reflect Paramount’s reliance on Federal Communications Commission (FCC) approval of its $8 billion Skydance sale.
Colbert told The New York Times his jokes about President Donald Trump are not partisan and arise from Trump’s narcissism.
Trump called for Jimmy Kimmel’s firing after a Melania joke and filed an FCC complaint.

Summary

CBS Finale

CBS set the series finale for May 21, 2026, 11:35 PM ET.
The final new episode, filmed on May 5, 2026, will feature former President Barack Obama and coincide with Obama Presidential Center opening on June 19, 2026.
From April 27-30, 2026, CBS aired repeats while Oprah Winfrey, Jake Tapper and Billy Crystal each gave farewell segments.
Declining ad revenue led CBS to cancel several late-night shows, prompting Stephen Colbert to say he will now follow the news “recreationally.”

Summary

Obama Confirms Appearance

Barack Obama (former President) confirmed his participation in Stephen Colbert’s final episode, calling it a ‘homecoming’.
The Obama Foundation posted on Instagram, writing ‘Couch booked. Volume up. Ready to go.’
Stephen Colbert (host of The Late Show) said the thunderbolt announcement highlighted Obama’s six prior visits, that this will be his final prime-time sit-down, and that their two-decade chemistry draws viewers.

Summary

Colbert Announces Projects

Stephen Colbert announced his next major TV project, an hour-long procedural comedy titled “Uncle Cops.”
A trailer released for “Uncle Cops” shows Colbert alongside John C. Reilly portraying the cop-uncle duo Mitch and Bob.
Warner Bros. revealed that Colbert will co-write a Lord of the Rings film titled “The Lord of the Rings: Shadow of the Past.”
The film’s writing team includes screenwriter Philippa Boyens and Colbert’s son Peter McGee.

History

Historical Context

When NBC announced in September 2004 that Conan O’Brien would replace Jay Leno on The Tonight Show in 2009, the network later forced O’Brien out in January 2010 with a $33 million settlement, citing affiliate news-rating losses. That 2004-2010 succession dispute set a precedent for later late-night cuts, such as CBS’s 2026 decision to end Stephen Colbert’s Late Show amid declining ad sales.

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Colbert Show Ends

CBS announced The Late Show with Stephen Colbert will end in May 2026, citing finances.
Analysts speculate the decision may reflect Paramount’s reliance on Federal Communications Commission (FCC) approval of its $8 billion Skydance sale.
Colbert told The New York Times his jokes about President Donald Trump are not partisan and arise from Trump’s narcissism.
Trump called for Jimmy Kimmel’s firing after a Melania joke and filed an FCC complaint.

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