CBS Cancels The Late Show as Advertising Revenue Declines

LOS ANGELES, CA — CBS announced the cancellation of The Late Show, a mainstay of late-night television, after 32 years. The cancellation comes amid significant advertising revenue declines, as explained by George Cheeks, the newly appointed Chair of TV Media at CBS.

During a press conference on August 7, Cheeks acknowledged the challenges facing late-night programming. “The challenge in late night is that the advertising marketplace is in significant secular decline,” he stated. “We are huge fans of Colbert, we love the show; unfortunately, the economics made it a challenge for us to keep going.”

The cancellation was influenced by the decision of Taylor Tomlinson, the host of After Midnight, to not return for another season. Cheeks mentioned that this development made it clear CBS “couldn’t stay in that daypart.” The network’s focus, he noted, is now on primetime and sports.

Insiders suggest that The Late Show was losing nearly $40 million a year, a fact that Cheeks did not deny when asked. He described the financial strain as “significant” and in the “tens of millions of dollars.”

Many critics are questioning the timing of the cancellation, which comes just days after Colbert criticized CBS’s settlement with Donald Trump regarding a separate lawsuit. However, Cheeks emphasized that the decision was not retaliation but rather financial necessity. “At the end of the day, it just wasn’t sustainable to continue,” he remarked.

The Late Show with Stephen Colbert, which first premiered in 1993, has been a staple of CBS’s late-night lineup. Colbert will continue to host until the show’s conclusion in May 2026.

Following the merger of Paramount and Skydance, the future of late-night television on CBS looks uncertain as it navigates these economic challenges.