Here's why CBS canceled ‘The Late Show with Stephen Colbert’ after 11 seasons

Stephen Colbert is saying goodbye to late-night television as CBS officially cancels The Late Show with Stephen Colbert after 11 successful seasons.

The shocking announcement came during a July 2025 taping, where Colbert revealed to the audience that not only was his run ending, but the iconic franchise itself would also come to a close. “I’m not being replaced. This is all just going away,” the comedian told stunned fans.

CBS later confirmed the cancellation, calling it a “purely financial decision” amid growing challenges in late-night television. The network praised Colbert’s contribution, highlighting that The Late Show remained the number one late-night program for nine straight seasons and recently earned an Emmy nomination for Outstanding Talk Series.

However, the timing of the cancellation sparked widespread speculation. Days earlier, Colbert had publicly criticized Paramount, CBS’ parent company, over its controversial $16 million settlement with President Donald Trump related to a dispute involving CBS News’ 60 Minutes interview with former Vice President Kamala Harris. Paramount was also reportedly seeking government approval for its merger with Skydance at the time.

Despite the controversy, CBS insisted the cancellation had “nothing to do with the show’s content or performance.”

During his emotional farewell announcement, Colbert thanked the nearly 200 staff members who worked on the show and expressed gratitude to viewers who supported him throughout the past decade.