Overview
- The Late Show with Stephen Colbert ended its 11‑year run with a star-studded final episode at the Ed Sullivan Theater that featured Paul McCartney as the principal guest and multiple celebrity cameos.
- CBS and parent Paramount announced the franchise's cancellation last year and have insisted the decision was purely financial and driven by the economics of late‑night television.
- Many viewers and industry figures have questioned that explanation because the cancellation followed public business dealings between Paramount and President Donald Trump, including a reported $16 million settlement, and Colbert's repeated on‑air criticism of the president.
- CBS will fill Colbert's 11:35 p.m. time slot with Byron Allen's Comics Unleashed, a syndicated, nonpolitical format designed for repeatable broadcasts that reduces production costs and topical risk.
- Colbert used his farewell to thank staff and signal concern for their futures, while peers such as David Letterman criticized the decision and President Donald Trump publicly celebrated the show's end, underscoring the broader debate about corporate influence on political satire.