CBS said it is canceling “The Late Show With Stephen Colbert” at the end of the television season in May, a casualty of industry changes that have dealt a crippling blow to advertising revenue.
Colbert announced the news to his audience during a show taping in New York.
“This is purely a financial decision against a challenging backdrop in late night,” top CBS executives said in a statement announcing the news. “It is not related in any way to the show’s performance, content or other matters happening at Paramount.”
“We consider Stephen Colbert irreplaceable,” the executives said. “We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television.”
This is a developing story.
