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Stephen Colbert has hosted his final episode of 'The Late Show.' CBS cites financial decisions as the reason for ending the show, while critics suspect political motives.
New York, May 21, 2026
Stephen Colbert has hosted his final episode of 'The Late Show' at the Ed Sullivan Theater in New York after more than a decade.
'The Late Show with Stephen Colbert' is coming to an end after 33 years at the Ed Sullivan Theater. CBS and Paramount called the decision a "financial choice." The show has been losing $40 to $50 million annually in recent years.
Stephen Colbert, one of the 'Big Five' of American late-night hosts, welcomed high-profile guests like Barack Obama, Bruce Springsteen, and Steven Spielberg in his final episodes. The last show featured a spectacular act: Colbert and his predecessor David Letterman threw old chairs off the theater’s roof.
Critics like Jason Zinoman suspect political motives behind the decision. Colbert frequently criticized former U.S. President Donald Trump on his show but also didn’t spare current President Joe Biden. The FCC chairman has previously criticized talk shows and their hosts in ways unusual for his predecessors.
In 2018, U.S. late-night shows generated around $450 million in advertising revenue. However, Stefan Büsser, an SRF host and comedian, believes the era of late-night shows in the U.S. is over. Still, he emphasizes the importance of political satire for television’s independence.
Colbert is currently working on a script for a new 'Lord of the Rings' film, a saga he openly admits to being a fan of. His politically engaged audience particularly appreciates his satirical monologues.
Jimmy Fallon and Jimmy Kimmel will not air new episodes of their shows during the week of Colbert’s finale to avoid direct competition.
