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Lord of the Rings and Neutral Milk Hotel enthusiast Stephen Colbert will host The Late Show for the final time tonight, ending an 11-year run at CBS after the network canceled the show for what it said were “purely financial” reasons. But many—including Colbert—believe the cancellation came at the behest of President Trump, a frequent target of the comedian’s jokes and ridicule.
The top-rated late-night show was informed of its fate last summer, shortly after CBS parent company Paramount settled a $20 billion lawsuit with Trump over its editing of a 60 Minutes interview with then-Democratic presidential candidate Kamala Harris. Colbert called the settlement a “big fat bribe.” Not long after, the FCC approved the Paramount-Skydance merger.
The future of late night: Network TV viewership has been down for everyone in the last decade, as younger audiences gravitate away from appointment TV viewing and toward online clips—something that networks have a hard time monetizing.
What’s next for Colbert? He is scripting a Lord of the Rings film for Warner Bros., a dream project for the longtime Tolkien nerd. He said he has no plans to get into politics, despite a mild endorsement from former President Barack Obama.
What’s next for the time slot? Starting tomorrow, CBS will air Comics Unleashed, a syndicated talk show hosted by businessman Byron Allen.—DL
This report was originally published by Morning Brew.
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https://fortune.com/2026/05/21/when-is-stephen-colbert-late-show-last-night-cancellation-trump-cbs-paramount/
Dave Lozo, Morning Brew
