When it was announced in 2014 that Stephen Colbert would succeed David Letterman as host of the CBS “Late Show,” reaction was mixed. Letterman, who retired after helming the talk show for 22 years, had a loyal audience. At that point, Colbert was best known for playing a satirical version of himself on Comedy Central’s “The Colbert Report.”

The end of the 'Late Show' franchise is a major blow for a once-beloved TV format, which has lost relevance and advertising dollars.

CBS has decided to end The Late Show with Stephen Colbert, and with it, the late night franchise as a whole. After more than a decade on the air, Colbert's helm of CBS' The Late Show franchise will conclude in May 2026, with CBS citing the move as a "purely financial decision."