"Next year will be our last season,” the late-night talk show host announced Thursday, July 17. "The network will be ending 'The Late Show’ next May."

As Colbert's show comes to an end, questions now surround Jon Stewart's future amid the changing media landscape. The 62-year-old hosted Comedy Central's The Daily Show from 1999 to 2015. He later hosted The Problem with Jon Stewart on Apple TV+ from 2021 to 2023 and returned to The Daily Show in 2024 part-time. Paramount also owns Comedy Central.

Colbert confirmed the cancellation during a show taping on Thursday. CBS said the move was "purely a financial decision against a challenging backdrop in late night."