Stephen Colbert's 'The Late Show' concluded on May 22, 2026, with a record-breaking finale, attracting an average of 6.74 million viewers, surpassing even his premiere in 2015.

The finale, which featured Paul McCartney performing with Colbert, Elvis Costello, Louis Cato, and Jon Batiste, benefited from an extra-long runtime and the strategic decision by rival hosts Jimmy Kimmel and Jimmy Fallon to air repeats, directing their audiences to CBS for one night.Despite the strong finish, the show's overall viewership had been declining in a fragmented media landscape, averaging about 2.7 million viewers per night in early 2026.

CBS decided to end 'The Late Show' due to financial pressures affecting late-night programming and will replace it with a comedy roundtable, 'Comics Unleashed with Byron Allen,' which is designed for replayability and avoids topical humor.The network anticipates profitability through paid airtime and ad revenue for the new show.TV analysts predict that Colbert's loyal audience may shift to competitors like Kimmel and Fallon.Colbert’s departure marks the end of a significant era in late-night television, characterized by political satire and cultural commentary.