In a shocking turn of events, CBS will air its final episode of "The Late Show With Stephen Colbert" in May 2026. Colbert broke the news during a taping, leaving fans reeling.

This announcement follows Colbert's fiery remarks against the network's parent company, Paramount Global, over a controversial financial deal involving Donald Trump that many believed was unjust. In a recent monologue, he aired his grievances, saying, "I feel offended; I don’t know if anything can restore my trust in this company, but a hefty US$16 million might help!" He humorously declared that in legal terms, such payments are referred to as a "big fat bribe."

Despite Colbert's success, with his show winning its timeslot and raking in 2.4 million viewers for 41 new episodes, CBS insists that the cancellation stems from financial pressures unrelated to the show's performance or content.

Colbert also announced that he won’t be replaced, stating, "This is all just going away." His comment about the cancellation coming at a volatile time in late-night TV raises eyebrows among critics. Politicians like Sen. Adam Schiff and Sen. Elizabeth Warren are urging transparency, questioning if the show's end is politically motivated.

The stakes are high; the cancellation rumor coincides with Paramount's pending sale to Skydance Media, which requires clearance from the Trump administration.

Colbert took over the reins from David Letterman in 2015 and has since steered the show into politically charged waters, blending satire with serious discussion. Known for his incisive critiques of Trump, his late-night counterpart, Colbert has become a titan of the genre, even winning prestigious awards like the Peabody and multiple Emmy nominations.

Yet, the late-night landscape is shifting: as younger audiences turn to online snippets rather than full episodes, shows like 'After Midnight' have also been axed by CBS.

Bill Carter, author of 'The Late Shift,' voices skepticism about CBS's decision-making, stating, "If CBS thinks people are just going to swallow this, they’re really deluded." As the clock ticks down to the series finale, viewers are left to ponder not just what’s next for Colbert but how this will forever change the late-night television landscape.