CBS canceled the Late Show with Stephen Colbert for financial reasons.

The show will end after the next season in May 2026.

Variety reported:

TV's ongoing problems with late night have come for Stephen Colbert, with CBS announcing Thursday that it plans to end his "Late Show" after the next TV season, citing a "financial decision."

The decision — which ends years of original late-night programming at CBS that started when the network lured David Letterman from NBC in 1993 — comes as the economics of wee-hours TV have begun to accelerate, with media companies growing wary of the high price tags involved in producing the shows while the young viewers they try to attract watch more of them via digital video.