CBS announced the cancellation of The Late Show with Stephen Colbert, with the final episode airing in May after nearly 33 years. The decision stemmed from financial reasons despite Colbert being the most-watched figure in late-night television. Colbert, who has been critical of Paramount and its financial dealings, including a $16 million settlement with President Trump, expressed gratitude to his team and the audience during the announcement. CBS and Paramount stated they will not replace Colbert, citing that he is irreplaceable and emphasizing ongoing struggles for late-night shows in maintaining audiences.
CBS's decision to end The Late Show with Stephen Colbert in May is based on financial considerations, despite the show's status as the most-watched in late-night television.
Colbert expressed his gratitude to his team and the audience during the announcement of the show's cancellation, highlighting the personal connection he felt over the past decade.
Executives from CBS and Paramount Global praised Colbert as irreplaceable and noted that they will not be replacing him, officially retiring The Late Show franchise altogether.
The statement from executives mentioned that late-night shows are struggling to maintain audiences, influencing their decision to conclude Colbert's successful run after nearly 33 years.
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