'The Late Show with Stephen Colbert' to end in 2026
It comes just two weeks after the parent company of CBS, Paramount, settled a lawsuit lodged by President Trump against CBS News.
American network CBS is pulling the plug on The Late Show With Stephen Colbert.
The American host, who has been at the forefront of the 32-year-old show since 2015, told audiences at a taping he found out the news last night (local time) that the network would end the show in May next year.
As the audience jeered and booed, Stephen Colbert said: “Yeah, I share your feelings.”
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“I do want to say that the folks at CBS have been great partners,” Colbert said. “I’m so grateful to the Tiffany network for giving me this chair and this beautiful theatre to call home. And of course, I’m grateful to you, the audience, who have joined us every night in here, out there, all around the world.”
It comes just days after Colbert spoke out against CBS parent company Paramount on air for settling a lawsuit filed by US President Donald Trump over an interview broadcast in October.
"As someone who has always been a proud employee of this network, I am offended," Colbert said in his opening monologue two days ago.
The audience applauded as Colbert took a jab at the same figure the network had paid in their settlement.
"And I don't know if anything will ever repair my trust in this company, but just taking a stab at it, I'd say $16 million would help."
He also noted it came against the backdrop of Paramount seeking the Trump administration's approval for a merger with company Sky Dance. CNN reported Paramount laid off another 3.5 percent of its workforce last month.
Stephen Colbert speaks onstage during the 'The Late Show with Stephen Colbert' panel discussion on 10 August, 2015 in Beverly Hills, California.
Frederick M. Brown/Getty Images/AFP
However, the move still has come as a bit of a surprise for a late night show that has consistently been tracking highly in ratings.
In a statement, Paramount and CBS executives said the cancellation “is purely a financial decision against a challenging backdrop in late night”.
“It is not related in any way to the show’s performance, content or other matters happening at Paramount.”
The executives also said Colbert was "irreplaceable".
"We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television."
The host has become well known in New Zealand for having former prime minister Jacinda Ardern on his show several times, visiting the country as part of a tourism campaign, and more recently speaking to Kiwi pop star Lorde about her new album, Virgin.
