Stephen Colbert shocked his audience and late night fans, announcing CBS had decided to cancel his long-running show. “The Late Show” is the most-watched late night talk show on television, but it is expensive to produce and has faced declining ratings.

Fans, political figures and fellow late-night hosts seemed stunned Thursday night when comedian Stephen Colbert announced that CBS would be ending The Late Show in May 2026, with many questioning what pushed the network and its parent company, Paramount Global, to make the decision.

James Corden on a joyful eight years of "The Late Late Show" 09:21 For eight years, he's been re-inventing late-night television on CBS' "The Late Late Show."Johnny Carson never jumped out of a ...