Colbert Ends 11-Year Late Show Run Amid Cancellation Debate

The final broadcast of The Late Show with Stephen Colbert on May 21, 2026, closed a 33-year run at the Ed Sullivan Theater that began under David Letterman in 1993 and continued under Colbert since 2015. Viewers saw an extended 17-minute-overrun episode packed with celebrity interruptions, a Paul McCartney performance of Hello Goodbye, and surreal sketches that included a wormhole swallowing the set. The hour mixed humor with explicit nods to the network decision that ended the program after 11 seasons.

CBS announced the cancellation in July 2025 and described it as a purely financial move driven by declining ad revenue and rising production costs in late-night television. Colbert had criticized a $16 million Paramount settlement with President Trump over a 60 Minutes interview edit weeks earlier, calling it a big fat bribe. Trump posted on Truth Social that Colbert lacked talent and ratings, language that echoed earlier attacks on the host and other late-night comedians.

The episode featured Bryan Cranston, Paul Rudd, Tim Meadows, Ryan Reynolds, Tig Notaro, and a final interview with McCartney, who presented a signed photo of the Beatles at the same theater in 1964. Colleagues Jimmy Kimmel, Jimmy Fallon, Seth Meyers, John Oliver, and Jon Stewart appeared in a pretaped segment. Former President Joe Biden and former Vice President Kamala Harris issued public tributes. CBS will replace the slot with Comics Unleashed, a program that host Byron Allen has said will avoid politics.

Colbert addressed the end directly in his monologue, noting the joy of more than 1,800 episodes while joking about a marine-mammal foundation job offer and playing a dolphin clip captioned It was a purely financial decision. He also referenced music-licensing concerns by playing an uncleared Peanuts theme. No viewership figures for the finale have been released by Nielsen or CBS.