Stephen Colbert has announced he’ll step down as host of The Late Show in May 2026, marking the end of both his 10-year run and the iconic franchise on CBS. “It’s not just the end of our show—it’s the end of The Late Show on CBS,” he told the audience during a July 17 taping.

Despite being the top-rated late-night show for nine seasons, CBS cited financial pressures—not performance—as the reason for ending the program. The network has no plans to name a new host.

Colbert thanked his 200-person team and called CBS “great partners.” Since its 2015 debut, his version of The Late Show has stood out for its sharp political satire, thoughtful interviews, and cultural impact.

Though fans and celebrities are mourning the loss, Colbert isn’t leaving CBS entirely. He’ll continue working with the network, including as executive producer of the upcoming late-night game show After Midnight.

As the show winds down, Colbert’s decade of mixing humor and heart during a politically charged era leaves a lasting legacy in late-night TV.