CBS has announced that The Late Show With Stephen Colbert will end next year.
The network described the host as “irreplaceable” and said it will retire the long-running franchise, citing a “financial decision.”
In a joint statement to CBS News, George Cheeks, the Co-CEO of Paramount Global; Amy Reisenbach, the President of CBS Entertainment and David Stapf, the President of CBS Studios said: “The Late Show With Stephen Colbert will end its historic run in May 2026 at the end of the broadcast season. We consider Stephen Colbert irreplaceable and will retire The Late Show franchise at that time.
“We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television.”
The statement continued: “This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content or other matters happening at Paramount.”
Colbert reportedly broke the news to the audience during the taping of tonight’s show, saying: “I want to let you know something I found out just last night. Next year will be our last season. The network will be ending The Late Show in May.”
The Independent has approached CBS for further comment.
The Late Show was previously hosted by David Letterman from 1993 to 2015. Colbert has hosted since September 2015. The show is recorded at the Ed Sullivan Theater in Manhattan, New York City.
The show is well-known for producing memorable celebrity interviews. Last night, Joaquin Phoenix apologized and offered an explanation for his infamous appearance on David Letterman’s version of the talk show in 2009.
During his recent appearance on The Late Show With Stephen Colbert, the Oscar-winner brought up the 2009 interview where he appeared in character from Casey Affleck’s mockumentary I’m Still Here.
The interview, in his shaggy beard, unruly hair, and sunglasses and following an announcement where the Joker star said he was retiring from acting to pursue a career in rap, led many to believe Phoenix was having a mental breakdown.
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Portions of the interview along with Letterman’s befuddled reaction, with his memorable ending (“Joaquin, I’m sorry you couldn’t be here tonight”), were even used in I’m Still Here.
“When I came on this show with Dave, I originally did the pre-interview in character and I realized that it was just a little silly, so I called them back and I said, ‘Listen, this is what I’m doing. I’m coming out here and I’m doing this whole thing,” Phoenix told host Colbert.
“And I just want Dave to like, lacerate me. I just want it to be really dangerous. That was the kind of intention…I just always wanted to get this reaction and see how I would respond to that. So it was beneficial for no one to know, except when needed.”
Admitting however, that the interview itself was “horrible,” Phoenix added: “It was strange because in some ways, it was a success, and it was also just one of the worst nights of my life.
“It was so uncomfortable. I regret it, I’ll never do it again. I’m so sorry.”
The actor did end up apologizing to Letterman in 2010 when appeared on the late-night talk show again.