After eleven seasons, thousands of monologues, and a decade defined by political satire and cultural commentary, The Late Show with Stephen Colbert will air its final episode on Thursday, May 21, 2026 on CBS. The broadcast will mark not only the end of Colbert’s tenure but the permanent retirement of the Late Show franchise — a CBS institution that has held the 11:35 PM timeslot for 33 consecutive years.
CBS announced on July 17, 2025, that it would be ending The Late Show with Stephen Colbert and retiring the Late Show franchise altogether in May 2026 after 33 years — with the first 22 seasons under David Letterman and the following 11 seasons under Colbert — describing the move as “purely a financial decision.”
In their announcement, CBS executives stated: “The Late Show With Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season. We consider Stephen Colbert irreplaceable and will retire the Late Show franchise at that time.”
Colbert learned Wednesday night on July 16 that after a decade on air, the following season would be the show’s last. He told his studio audience: “It’s the end of ‘The Late Show’ on CBS. I’m not being replaced. This is all just going away.” The audience responded with boos and groans, and Colbert replied: “Yeah, I share your feelings.”
The cancellation was met with shock across the industry. Colbert’s counterpart on ABC, Jimmy Kimmel, posted on Instagram “Love you Stephen” and directed an expletive at CBS. Actor and producer Jamie Lee Curtis noted that “they’re trying to silence people, but that won’t work.”
Throughout the final season, the show has featured a parade of high-profile celebrity appearances. Only one guest has been formally announced for the final stretch: Barack Obama, whom Colbert will interview in Chicago at the Barack Obama Presidential Center. The show won Outstanding Talk Series at the 77th Primetime Emmy Awards in September 2025 — just months after CBS announced the cancellation, making the win bittersweet.
The Late Show has remained the highest-rated American late-night talk show for nine consecutive seasons as of 2025, marking the longest winning streak in franchise history over its competitors. Despite its ratings dominance, multiple sources reported that the show was losing approximately $40 million annually, a financial reality that the network said made the decision unavoidable.
Effective May 22, 2026, Byron Allen’s Comics Unleashed will move to the 11:35 PM time slot being vacated by The Late Show.
As of today, Thursday, May 7, Colbert has fourteen days remaining on the air. The final episode is scheduled to tape at the historic Ed Sullivan Theater in New York City, the same stage where Colbert has hosted every night since September 2015. No replacement late-night franchise from CBS has been announced.
