The Late Show with Stephen Colbert to End After 10 Seasons in ‘Financial Decision’ by CBS

Stephen Colbert is saying goodbye to late-night.

The Late Show with Stephen Colbert host announced that his show is ending after 10 seasons during a taping at the Ed Sullivan Theater on Thursday, July 17. Colbert took over the show in September 2015 following David Letterman‘s departure.

“Before we start the show, I want you to know something that I found out just last night,” said Colbert during his opening monologue. “Next year will be our last season. The network will be ending the Late Show in May.”

After a series of boos from the crowd, Colbert said he shared everyone’s feelings.

“It’s not just the end of our show, but it’s the end of The Late Show on CBS. I’m not being replaced,” he said. “This is all just going away. And I do want to say that the folks at CBS have been great partners.”

The former Colbert Report host said he was thankful for being given a chair and a theater to call “home” and was grateful for his fans.

“I am extraordinarily, deeply grateful to the 200 people who work here. We get to do this show. We get to do this show for each other every day, all day, and I’ve had the pleasure and the responsibility of sharing what we do every day with you in front of this camera for the last 10 years,” he added.

“And let me tell you, it is a fantastic job. I wish somebody else was getting it, and it’s a job that I’m looking forward to doing with this usual gang of idiots for another 10 months,” said Colbert.” It’s gonna be fun.”

In a statement from CBS shared with PEOPLE, the network said, “This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content or other matters happening at Paramount.”

“Our admiration, affection, and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult. Stephen has taken CBS late night by storm with cutting-edge comedy, a must-watch monologue and interviews with leaders in entertainment, politics, news and newsmakers across all areas,” the statement said.

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“The show has been #1 in late night for nine straight seasons; Stephen’s comedy resonates daily across digital and social media; and the broadcast is a staple of the nation’s zeitgeist,” the statement continued.

CBS’ decision comes days after Colbert criticized the network’s parent company, Paramount, during his July 14 episode for its July 3 $16 million settlement with President Donald Trump, who alleged that CBS News’ 60 Minutes deceptively edited an interview with former Vice President Kamala Harris. Paramount is in the middle of a merger with the entertainment company Skydance, which will require approval from Trump’s administration.

Colbert’s final Late Show episodes will air during the 2025-2026 TV season.