CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.

When it was announced in 2014 that Stephen Colbert would succeed David Letterman as host of the CBS “Late Show,” reaction was mixed. Letterman, who retired after helming the talk show for 22 years, had a loyal audience. At that point, Colbert was best known for playing a satirical version of himself on Comedy Central’s “The Colbert Report.”

The late night host looks ahead to the next 10 months, assuring his crew and studio audience, "It's going to be fun."

The Late Show with Stephen Colbert will end in May 2026 after 33 years on air, the CBS television network announced in a surprise statement on Thursday. The move "is purely a financial decision against a challenging backdrop in late night [television]," and "is not related in any way to the show's performance, content or other matters," CBS said.

Why did CBS cancel "The Late Show with Stephen Colbert"? And is this a harbinger of doom for all of late-night TV?

Netflix announced that the talk show My Next Guest Needs No Introduction with David Letterman has been renewed for its sixth and seventh seasons. The talk show kicked off in 2018 — three years after L