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Colbert Exits Late Show; CBS Cites $40 Million Loss

5/8/2026

Summary

Colbert Signs Off

CBS announced Stephen Colbert will sign off The Late Show on May 21, 2026, at 11:35 PM ET.
CBS cited a $40 million annual loss as the reason for ending the show.
Byron Allen’s Comics Unleashed will take the 11:35 PM slot after the cancellation.
CBS settled a $16 million lawsuit with the Trump administration over a 60 Minutes segment.
After his final episode, Colbert will co-write a Lord of the Rings film with screenwriter Philippa Boyens.

Summary

Colbert's Farewell

The show’s 2025 termination coincided with the Paramount-Skydance merger announced in early 2026, leading analysts to link the deal to the programming shift.
Network officials urged Stephen Colbert to sign a long-term contract in 2023, a move now contradicted by the 2025 termination.
The farewell episode showcased political leaders and musicians, while some insiders hinted political pressure may have influenced the cancellation, though no official source confirmed it.

Summary

Colbert Departs

Stephen Colbert, host of The Late Show, concluded his tenure (2015-2026) that capped a 33-year franchise begun by David Letterman in 1993.
The Late Show earned multiple Emmy nominations during Stephen Colbert's era, reflecting acclaim for its satirical monologues.
Viewers praised Stephen Colbert's storytelling and “genuine humanity,” noting an emotional connection as the program concluded.
Industry analysts say the show’s blend of satire and narrative reshaped late-night expectations for future hosts.

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Colbert Signs Off

CBS announced Stephen Colbert will sign off The Late Show on May 21, 2026, at 11:35 PM ET.
CBS cited a $40 million annual loss as the reason for ending the show.
Byron Allen’s Comics Unleashed will take the 11:35 PM slot after the cancellation.
CBS settled a $16 million lawsuit with the Trump administration over a 60 Minutes segment.
After his final episode, Colbert will co-write a Lord of the Rings film with screenwriter Philippa Boyens.

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