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The Late Show with Stephen Colbert ended with its final broadcast on May 21, 2026. CBS had announced the previous July that it would end Colbert’s program and retire the Late Show franchise, citing financial pressures. The decision drew political scrutiny because it came days after Colbert criticized Paramount’s settlement with Donald Trump—but the timing does not establish that the settlement caused the cancellation.
When was the last episode of The Late Show with Stephen Colbert?
The finale aired May 21, 2026, ending Colbert’s run and the 33-year Late Show franchise, according to CBS News’s finale coverage. Colbert hosted more than 1,800 episodes. Paul McCartney was the final guest and performed in the closing moments; other performers and fellow late-night hosts also appeared.
Why did CBS end the show?
CBS announced on July 17, 2025, that the show would conclude in May 2026 and that the network would retire the franchise. The company described the decision as “purely a financial decision against a challenging backdrop in late night.” CBS also said it was “not related in any way to the show’s performance, content or other matters happening at Paramount,” as reported by CBS News.
That is CBS’s stated explanation, not an independently audited account of the program’s finances. Colbert told the audience at the time: “It’s the end of ‘The Late Show’ on CBS. I’m not being replaced. This is all just going away.”
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Was Colbert canceled because of the Trump settlement?
The timing prompted questions, but the available reporting does not establish that the settlement caused CBS’s decision. On Monday, July 14, 2025, Colbert criticized Paramount’s $16 million settlement with Trump over a 60 Minutes interview. CBS announced the show’s end three days later, on Thursday. The Associated Press reported that senators publicly questioned the motive. The sequence explains the controversy; it does not prove political causation.
How did the show perform before the cancellation?
CBS said The Late Show had ranked No. 1 in late night for nine consecutive seasons. The AP also cited Nielsen data available in July 2025: the program averaged about 2.417 million viewers across 41 new episodes and was winning its broadcaster timeslot.
Rank #2
Those measures describe audience reach and ranking, not whether the show was profitable. A program can attract a large audience while still facing financial pressures, and CBS did not publish audited show-specific financial results in its cancellation announcement.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Where can you watch the finale?
Official show materials have identified Paramount+ as a streaming destination for the program. That does not confirm that the finale or the full episode archive is still available there, or that either is accessible in every country. Check the current Paramount+ catalog in your region before relying on it for viewing.
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