Stephen Colbert, the esteemed host of "The Late Show with Stephen Colbert," is set to present his final episode on May 21, concluding an 11-year stint at the helm of the CBS late-night talk show. This announcement was made during Colbert's appearance on "Late Night with Seth Meyers," where he shared his mixed feelings about the show's impending finale.
The 61-year-old comedian reflected on the impending conclusion, expressing a deep appreciation for his colleagues. "The shows are fun to do, but what I really love is the people I do it with," Colbert said. Despite the bittersweet ending, he alluded to potential future collaborations with his production team.
CBS had previously stated in July that "The Late Show," which first debuted in 1993 with David Letterman as host, would cease production after the 2025-2026 broadcast schedule. Colbert, who took over hosting duties from Letterman in 2015, remarked, "You can do comedy in a lot of different places. There’s no place like the Ed Sullivan Theater, but it's really the people. That's what I care about, that's really what I’m going to miss more than anything."
The network cited the cancellation as a financial decision, with a source informing the New York Post that Colbert's iteration of the show incurs annual losses between $40 million to $50 million. Such revelations come even though "The Late Show" has maintained a leading position in late-night ratings, drawing 2.69 million total viewers across 37 episodes in the fourth quarter, according to The Late Nighter.
Despite the program's financial struggles, it recently achieved critical acclaim, securing a Primetime Emmy Award for Outstanding Talk Series—the first Emmy win for Colbert as the host of "The Late Show." Nonetheless, the show has grappled with challenges in attracting viewers within the key demographic of 25 to 54-year-olds, with record-low viewership reported in January.
Colbert and his fellow liberal comedians have been vocal critics of President Trump and FCC Chair Brendan Carr. The host has pledged to ramp up his criticism of the President during his remaining broadcasts and has accused the FCC under Carr's leadership of trying to suppress his voice and that of his peers.
An examination by media watchdog NewsBusters highlighted that "The Late Show" featured over 176 left-leaning guests compared to just one Republican guest between 2022 and 2025. Curtis Houck, managing editor of NewsBusters, commented on the show's political leanings, stating, "Colbert’s show has been late-night group therapy for liberals."
The conclusion of "The Late Show with Stephen Colbert" marks the end of an era for CBS. As the countdown to the final episode begins, viewers and Colbert's fans alike are anticipating how the host will close out his influential run in late-night television.
