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[Satire] Stephen Colbert Is Saying Goodbye to 'The Late Show.' How It Ends Is Still a Secret

Colbert says the cancellation may have given him time and energy for new projects, as the final episode airs after 11 years on CBS.

  • On Thursday, May 21, 2026, Stephen Colbert will host the final episode of 'The Late Show' at the Ed Sullivan Theater in New York, concluding his 11-year tenure as host of the CBS flagship program.
  • CBS executives described the cancellation as 'purely a financial decision,' though the move followed a $16 million settlement with President Donald Trump over a '60 Minutes' interview, as Paramount Global's merger with Skydance Media awaited Trump administration approval.
  • Despite the cancellation, the program remained the most-watched late-night show, averaging more than 2.7 million viewers in 2026, while Colbert's YouTube channel maintains 10 million subscribers.
  • Reflecting on his departure, Colbert stated the rigorous schedule 'takes a lot of bone marrow' and he plans to co-write a 'Lord of the Rings' film titled 'Shadows of the Past' with his son, screenwriter Peter McGee.
  • Industry observers compare the show's end to the 1969 cancellation of 'The Smothers Brothers Comedy Hour,' noting persistent tensions between late-night political satire and federal regulators seeking to pressure media independence.
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Lean Right

Falling odds, political tensions and high production costs put the classic late-night shows under pressure. Stephen Colbert's farewell may end more than just a single show.

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Associated Press NewsAssociated Press News
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Lean Left

Stephen Colbert is saying goodbye to 'The Late Show.' How it ends is still a secret

Stephen Colbert’s long run on “The Late Show” ends as he appears behind his CBS desk for the final time.

·United States
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arcamax.com broke the news on Wednesday, May 20, 2026.
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