Stephen Colbert\u2019s beloved late-night show is coming to an end. <\/p>\n
CBS announced its plan to cancel \u201cThe Late Show With Stephen Colbert<\/a>\u201d after the next TV season in a statement on Thursday, July 17.<\/p>\n The network claimed it was \u201cpurely a financial decision.\u201d<\/p>\n The decision was made public on Thursday, July 17. CBS via Getty Images<\/p>\n \u201cWe consider Stephen Colbert irreplaceable and will retire \u2018The Late Show\u2019 franchise\u2019 in May of 2026,\u201d CBS executives\u2019 statement read. \u201cWe are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television.\u201d<\/p>\n \u201cThis\u00a0is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show\u2019s performance, content or other matters happening at Paramount,\u201d the announcement concluded.<\/p>\n Colbert addressed the situation during the taping of Thursday\u2019s show at the Ed Sullivan Theatre in New York, sharing that he learned the news on Wednesday evening.<\/p>\n Delivering the news from his iconic \u201cLate Show\u201d desk, the television host said he was appreciative to the network for giving him a platform.<\/p>\n As the audience booed, Colbert chimed in, \u201cYeah. I share your feelings.\u201d<\/p>\n The network said it was \u201cpurely a financial decision.\u201d CBS via Getty Images<\/p>\n Stephen Colbert\u2019s first \u201cLate Night\u201d show aired in September 2015. CBS via Getty Images<\/p>\n He continued to explain, \u201cI\u2019m not being replaced, this is all just going away.\u201d<\/p>\n \u201cI do want to say that the folks at CBS have been great partners. I\u2019m so grateful to the Tiffany Network for giving me this chair and this beautiful theater to call home. And of course, I\u2019m grateful to you, the audience who have joined us. \u2026 And I am extraordinarily, deeply grateful to the 200 people who work here,\u201d Colbert continued. <\/p>\n \u201cWe get to do this show for each other, every day, all day,\u201d he added. \u201cIt is a fantastic job. I wish someone else was getting it.\u201d<\/p>\n Stephen Colbert addressed the news during Thursday\u2019s taping. CBS via Getty Images<\/p>\n He took over CBS\u2019 \u201cLate Night\u201d after David Letterman\u2019s exit in 2015. Getty Images for Montclair Film and North to Shore Festival<\/p>\n CBS\u2019 decision marks the end of the network\u2019s historic late-night programming, which started when David Letterman jumped ship from NBC in 1993 to host \u201cThe Late Show with David Letterman.\u201d<\/p>\n Colbert took over the show when Letterman left in 2015<\/a>. He\u2019s been a consistent ratings leader for the network ever since. <\/p>\n The star has hosted nearly 1,700 episodes over the span of almost 10 seasons. His first show aired on September 8, 2015. <\/p>\n The show has remained a ratings frontrunner over its 10-season run. CBS via Getty Images<\/p>\n Paramount Global and CBS recently settled a massive lawsuit filed by President Trump. CBS via Getty Images<\/p>\n Before his stint on \u201cThe Late Show,\u201d Colbert starred on\u00a0\u201cThe Daily Show\u201d\u00a0and\u00a0\u201cThe Colbert Report.\u201d<\/p>\n There were already rumblings that Colbert might be on the chopping block, as Skydance Media is slated to acquire Paramount Global<\/a>, CBS\u2019 parent company.<\/p>\n This is just another blow to CBS, which recently settled a lawsuit with President Trump<\/a> in order to keep the peace and save the Skydance-Paramount merger.<\/p>\n