Stephen Colbert delivered the final episode of “The Late Show” on May 21, 2026, marking the end of the franchise after a 33-year run. Colbert, who hosted the show for the last 11 years, reflected on the experience as a privilege, highlighting the history of the Ed Sullivan Theater and the joy the show brought to its cast and audience.
In his opening monologue, Colbert described the show as a “joy machine,” emphasizing the camaraderie among the staff and the hard work involved in producing over 1,800 episodes. The finale ran 17 minutes longer than usual and featured surprise appearances from notable celebrities such as Jon Stewart, Tig Notaro, Ryan Reynolds, Paul Rudd, Bryan Cranston, Don Cheadle, and astrophysicist Neil deGrasse Tyson.
Several fellow late-night hosts, including Jimmy Kimmel, Jimmy Fallon, Seth Meyers, and John Oliver, joined Colbert on the broadcast. Kimmel expressed that the late-night landscape would feel different without Colbert. In tribute, both Kimmel and Fallon aired reruns in their usual time slots that evening.
The final guest on the show was Paul McCartney, who returned to the Ed Sullivan Theater—the same venue where The Beatles made their American television debut in 1964. McCartney, who had appeared on the show previously in 2009 and 2019, performed the closing song “Hello, Goodbye,” joined by Colbert, Jon Batiste, and Elvis Costello. Batiste, who served as the show’s bandleader and musical director from 2015 to 2022, also performed alongside Costello on the finale.
Leading up to the farewell, the show hosted other high-profile guests, including Tom Hanks, Billy Crystal, Steven Spielberg, David Letterman, and Bruce Springsteen. Letterman, whose retirement in 2015 led to Colbert’s hosting debut, was part of the celebratory retrospective.
CBS announced in July 2025 that it would end “The Late Show with Stephen Colbert” after the current season, citing financial considerations amid a challenging late-night television environment. This explanation was met with some skepticism, with speculation about political motivations due to Colbert’s outspoken critiques of former President Donald Trump, who later criticized Colbert harshly on social media following the finale.
During the final show, Colbert humorously referenced a copyright infringement lawsuit involving the use of the “Peanuts” theme song, highlighting the complex legal landscape surrounding television production.
At 62, Colbert leaves behind a legacy of nine consecutive seasons as the No. 1 late-night program, with the show winning the Emmy for outstanding talk series in 2025. CBS has announced Byron Allen’s “Comics Unleashed” will take over the 11:35 p.m. time slot following Colbert’s departure.
The entire set of “The Late Show” will be donated to the Museum of Broadcast Communications in Chicago, a city central to Colbert’s early career and education. He attended Northwestern University and began his comedy career with Chicago’s Second City troupe.
Why it matters
The end of “The Late Show” franchise marks a significant shift in the late-night television landscape on CBS, ending a long-running program with substantial cultural influence. Colbert’s tenure saw the show achieve high ratings and critical acclaim, reflecting changing audience tastes and the evolving nature of broadcast media. CBS’s decision illustrates broader financial and strategic challenges facing legacy television programming.
Background
“The Late Show” originally debuted in 1993 with David Letterman as host before Stephen Colbert took over in 2015. The Ed Sullivan Theater has been a historic venue for American television, famously hosting The Beatles’ U.S. debut and numerous iconic performances. Colbert’s version of the show became known for its political satire, celebrity interviews, and musical performances, engaging a wide audience through changing political and cultural climates.
Sources
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