The Late Show with Stephen Colbert will be canned in May 2026, its host announced this week. The CBS show was the most watched of the network late shows. The company says the decision is “purely financial”.

CBS parent Paramount is in the throws of the merger with Skydance and recently settled a lawsuit with US President Donald Trump in order to facilitate deal approval. Colbert often cracks jokes at President Trump’s expense, and they make their way around the world on social media.

Democrats have criticised Paramount for reaching the settlement. Colbert joined in riffing in a monologue on what he called Paramout’s “big fat bribe” to the president.

“I’m not being replaced. This is all just going away,” the 61-year-old comedian said.

The Late Show debuted in 1993 with David Letterman as host. “It is a fantastic job,” Colbert added. “I wish somebody else was getting it.”

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