\n<\/p>\n
The Late Show With Stephen Colbert<\/em> has been canceled by CBS. The news landed like an earthquake on Thursday evening, coming amid swirling ongoing questions about the future both of late-night in the TikTok age and of CBS\u2019s parent company Paramount, given its pending merger with Skydance Media. CBS ending one of the most venerable franchises in broadcast TV history\u2014it dates back to 1993, when David Letterman<\/strong> joined the network after an acrimonious split from NBC\u2014will only lead to the raising of more anxious eyebrows.<\/p>\n CBS made the announcement in a statement that also called Colbert \u201cirreplaceable.\u201d This, the network said, is why the series itself will end in May 2026, rather than continuing on with a new host.<\/p>\n \u201cWe are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television,\u201d the statement continued. \u201cThis is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show\u2019s performance, content or other matters happening at Paramount.\u201d<\/p>\n Colbert broke the news<\/a> to his live audience while taping Thursday\u2019s show, which airs at 11.30pm. His announcement met a chorus of boos. \u201cYeah, I share your feelings,\u201d Colbert replied. \u201cIt\u2019s not just the end of our show, but the end of The Late Show<\/em> on CBS. I\u2019m not being replaced. This is all just going away.\u201d He ended by thanking CBS, viewers, and the show\u2019s crew of 200 people.<\/p>\n Colbert recently celebrated his 10th season of hosting The Late Show<\/em>, which has often ranked no. 1 in the ratings for its timeslot and has been nominated for the top variety talk-series Emmy for nine years running, including this season. Ten years ago, this category recognized six separate shows. Now it\u2019s down to just three, due to a downturn in submissions. Across late night, ratings are down as viewers migrate to watching clips on YouTube and other social-media platforms\u2014and even among that group, there\u2019s a lot more competition for eyes than there used to be.<\/p>\n The Late Show<\/em>\u2019s fellow Emmy nominees, The Daily Show<\/em> and Jimmy Kimmel Live!<\/em>, have similarly been on the air for decades. The former also airs on a Paramount network, Comedy Central. Daily Show<\/em> flagship host Jon Stewart<\/strong> has a contract that expires in December of 2025<\/a>; Jimmy Kimmel<\/strong>\u2019s current contract expires in 2026, and he may not sign another one. \u201cI think this is my final contract,\u201d he told the LA Times<\/em> last year<\/a>. \u201cI hate to even say it, because everyone\u2019s laughing at me now \u2014 each time I think that, and then it turns out to be not the case. I still have a little more than two years left on my contract, and that seems pretty good. That seems like enough.\u201d<\/p>\n The news of The Late Show<\/em>\u2019s cancellation will echo loudly through the TV landscape. Earlier this year, CBS canceled its 12.30am show, After Midnight<\/em>, which Colbert executive-produced, after host Taylor Tomlinson<\/strong> decided to leave the show. The network declined to find a new host for the program, or to replace it with another original series. Tomlinson\u2019s onetime timeslot competitor, Seth Meyers,<\/strong> continues to host Late Night<\/em> on NBC, but his show has also been the victim of a harsh financial reality. Meyers lost his house 8G Band last year\u2014a move that one of its members, Eli Janney,<\/strong> attributed to budget cuts<\/a>. Several media outlets have spent the last<\/a> few years<\/a> covering late night\u2019s dwindling resources and relevance, and Colbert\u2019s exit will do little to turn that tide.<\/p>\n In its statement about the cancellation, CBS surely hopes to bat away inevitable speculation that the decision has anything to do with Skydance\u2014the media company founded by David Ellison<\/strong> that\u2019s set to merge with Paramount in an $8 billion deal. Earlier this month, Paramount settled a defamation lawsuit that the Trump administration launched over the editing of a 60 Minutes<\/em> interview with vice president Kamala Harris<\/strong> for $16 million\u2014a result which was harshly condemned by observers ranging from senators Elizabeth Warren<\/strong> and Bernie Sanders<\/strong><\/a> to Paramount employee Jon Stewart.<\/p>\n \u201cIt doesn\u2019t feel like scrutiny on news networks\u2014it feels like fealty,\u201d Stewart said on a recent episode<\/a> of The Daily Show<\/em>. \u201cThey are being held to a standard that will never be satisfactory to Donald Trump. No one can ever kiss his ass enough.\u201d He also called the settlement \u201cshameful.\u201d<\/p>\n Stewart\u2019s show has since been trailed by rumors that it, too, could be up for cancellation. Stewart addressed those whispers this week on his podcast<\/a>. \u201cThey haven\u2019t called me and said, like, \u2018Don\u2019t get too comfortable in that office, Stewart,\u2019\u201d he said. \u201cBut let me tell you something: I\u2019ve been kicked out of shittier establishments than that. We\u2019ll land on our feet.\u201d<\/p>\n<\/div>\n