New York, N.Y. — “The Late Show with Stephen Colbert” will air its final episode in May 2026, as announced by both Colbert and CBS on Thursday. The network stated that the decision to conclude the iconic show was driven by financial considerations rather than the show’s viewership performance.

In a press release, CBS expressed admiration for Colbert’s contributions, emphasizing that he is “irreplaceable” within the franchise. They plan to retire “The Late Show” entirely, marking the end of a significant era in late-night television. “We take pride in Stephen’s tenure here at CBS,” the statement noted. “He and the program will be remembered alongside the greats of late-night history.”

During Thursday’s live taping at the Ed Sullivan Theater, Colbert directly addressed his audience with the news, revealing that he had just learned the details the previous evening. His announcement was met with a chorus of boos and cries of “No!” from the crowd. Colbert empathized with the audience’s reaction, stating, “Yeah, I share your feelings.”

The host went on to reflect on his decade-long journey with the show, noting that this closure signifies not only the end of his program but the retirement of the franchise itself. “I’m not being replaced. This is all just going away,” he said. Colbert expressed deep appreciation for the support he received from CBS and the audience, acknowledging the invaluable contributions of the show’s band and the entire production team.

Colbert took over “The Late Show” from David Letterman in 2015, previously hosting “The Colbert Report” on Comedy Central. Since then, the show has consistently dominated late-night ratings, leading the pack for nine consecutive seasons.

CBS indicated that its decision was particularly hard, given their respect for Colbert and his talented crew. Despite the challenging backdrop for late-night programming, the network clarified that the choice was strictly financial and not a reflection of the show’s content or viewership metrics.

As he prepares for the final season, Colbert shared his enthusiasm for continuing to engage with his audience. “I look forward to doing this with my usual gang of idiots for another ten months,” he remarked, underscoring his commitment to making the most of the remaining episodes.

While the show’s conclusion marks an end of an era, CBS expressed a desire to celebrate Colbert’s career and honor the show over its last ten months, acknowledging the millions of fans who have tuned in regularly.