Comedian Stephen Colbert will be looking for a new job after his run on The Late Show ends in May 2026. CBS announced on Thursday evening that the long-running late night program founded by David Letterman will be retired for alleged cost-cutting measures.

"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."

It’s a line of criticism we’ve now heard a few times from various Paramount employees. In April, months before the final settlement amount was reached, 60 Minutes correspondent Scott Pelley laid bare the stakes of the deal,

"The Late Show With Stephen Colbert" will come to an end in May 2026, after the upcoming 2025-26 TV season, Colbert announced on Thursday

Colbert followed “The Daily Show” host Jon Stewart’s attack of the deal one week earlier. Stewart works for Comedy Central, also owned by Paramount, making the two comics the most visible internal critics of the $16 million settlement that was announced on July 1.

Stephen Colbert went off on his employer, Paramount, on Monday after the company decided to settle with President Trump in his lawsuit against the network.

Stephen Colbert and Jon Stewart slammed Paramount for making a deal with Trump, serving notice they won't be silenced by their parent company.