CBS Cancels Stephen Colbert Late Show Ending Decade-Long Run

CBS announced the cancellation of Stephen Colbert's Late Show, citing annual losses of $40-50 million and deciding to retire the entire Late Show franchise by May 2026 despite Colbert having the highest ratings among traditional late-night hosts. The decision sparked speculation about political motivations due to Colbert's criticisms of the Trump administration, but CBS emphasized financial reasons. Fox News host Greg Gutfeld’s late night show recently outperformed Colbert's in ratings, averaging three million viewers compared to Colbert’s 1.9 million, leading to discussions about Gutfeld potentially replacing Colbert as a late-night star. Colbert’s departure has elicited strong reactions from fellow late-night hosts like Jimmy Kimmel and Andy Cohen, who expressed shock and sadness over losing a prominent voice in late-night television. Meanwhile, some commentators suggest Colbert could leverage his communication skills, political insight, and public appeal toward a potential 2028 presidential run. Overall, the shift highlights the evolving landscape of late-night TV amid rising competition from streaming platforms and social media.