Stephen Colbert’s Late Show Cancellation Signals Major Shift in Late-Night Television Landscape

Stephen Colbert’s just-announced cancellation may be the proverbial canary in the coal mine for late-night television. CBS revealed the shocking decision to end The Late Show With Stephen Colbert — and the entire Late Show franchise — in May 2026. The host himself broke the news on Thursday night’s episode, stating: “I’m not being replaced. This is all just going away.“

In a joint statement, CBS executives George Cheeks, Amy Reisenbach, and David Stapf explained the decision as a financial one, unrelated to the show’s performance, content, or Paramount’s ongoing matters. However, some speculate that the cancellation is linked to CBS parent company Paramount’s controversial defamation suit settlement involving former President Donald Trump, preceding Paramount’s planned merger with Skydance Media.

Before the cancellation, this year’s crop of Emmy nominees already hinted at late night’s shifting landscape. The Late Show was among only three nominees in the Outstanding Talk Series category, alongside The Daily Show With Jon Stewart and Jimmy Kimmel Live. This number was reduced from five earlier in the year, reflecting a dwindling candidate pool.

CBS has experienced the most late-night cancellations and retirements among broadcast networks: James Corden ended The Late Late Show in 2023, and the show itself was discontinued. In June, Taylor Tomlinson departed After Midnight after just one year. Paramount-owned Comedy Central also saw Trevor Noah unexpectedly step down from The Daily Show in 2022, with Jon Stewart returning part-time last year.

However, Stewart has hinted that his own tenure may be short-lived, especially with Skydance’s takeover of Paramount looming. He said on his Weekly Show podcast: “They haven’t called me and said like, ‘Don’t get too comfortable in that office, Stewart!’ … They may sell the whole f–king place for parts.”

Colbert’s departure leaves NBC’s The Tonight Show Starring Jimmy Fallon, Late Night With Seth Meyers, and ABC’s Jimmy Kimmel Live as the only remaining broadcast late-night shows. Each show received single-digit Emmy nominations this year: Kimmel led with three, Colbert earned two, and Fallon and Meyers received one each for their short-form series on YouTube.

The reduction in Emmy nominees from five to three in the Talk Series category was especially disappointing for Seth Meyers, who campaigned vigorously to keep his show in contention. He acknowledged the challenges in linear television and advertising but expressed confidence in his network’s leadership to navigate those hurdles.

As traditional late-night shows decline, streamers and social media platforms are introducing new talk show formats. Netflix submitted Everybody’s Live With John Mulaney (which earned one technical nomination), and Peacock entered Hart to Heart hosted by Kevin Hart. However, neither secured major nominations.

YouTube’s popular late-night clips, such as Hot Ones and Very Important People, failed to gain Emmy traction, as did newer shows like Midnight Snack With Julie Chan on the Asian American Movies streaming platform.

From the cable realm, HBO’s Real Time With Bill Maher, CNN’s Have I Got News for You, and Bravo’s Watch What Happens Live With Andy Cohen also missed out. The only cable late-night series still thriving in Emmy nominations is Last Week Tonight With John Oliver, which received six nods including Best Scripted Variety Series.

Notably, even the Best Scripted Variety Series category shrank its nominees from five to just two: Last Week Tonight and the 50th season of Saturday Night Live will compete for the statuette on September 14. For those unable to watch live, highlights will almost certainly appear on YouTube the following day.