CBS is axing “The Late Show With Stephen Colbert” in May 2026. CBS is axing “The Late Show With Stephen Colbert” in May 2026, the host told an audience at a taping Thursday.

Skydance, the movie studio trying to buy CBS and Comedy Central parent company Paramount, appears eager to rid CBS of “a liberal taint.”

The end of the 'Late Show' franchise is a major blow for a once-beloved TV format, which has lost relevance and advertising dollars.