Stephen Colbert Signs Off From ‘The Late Show’ With Emotional Finale

NEW YORK — Stephen Colbert hosted his final episode of “The Late Show” on Thursday night, closing out a decade-long run with an emotional 80-minute broadcast that featured fellow late-night hosts, comedians and a closing performance by Paul McCartney.

The finale came 10 months after CBS announced it would end the program, a decision that drew widespread criticism and accusations that its parent company was trying to placate President Donald Trump.

A Joyful Farewell, With a Few Jabs

Colbert reflected on hosting the show, saying his staff referred to the production as “the joy machine” because it had to run like a machine. If you choose to do it with joy, he said, it doesn’t hurt as much when your fingers get caught in the gears.

Several guests chided the network and alluded to Trump’s anger at being a frequent target of Colbert’s jokes. Colbert himself avoided mentioning the president but took a parting jab at CBS, instructing his band to play the “Peanuts” theme, a reference to costly copyright litigation, according to MS NOW. McCartney closed the show with a Beatles song.

Trump Responds

Trump celebrated the show’s end in a post on his Truth Social platform on Friday, writing that Colbert was “finally finished at CBS” and disparaging his talent and ratings.

Controversy Over Cancellation

CBS announced in July 2025 that it was ending “The Late Show,” citing financial challenges facing late-night network television as advertising revenue declined. Network executives said the decision was unrelated to other matters before the company.

Critics questioned that explanation. At the time, Paramount, CBS’s parent, was seeking federal approval for its $8 billion merger with Skydance Media. Shortly before the cancellation, CBS had settled a lawsuit Trump filed over its “60 Minutes” program for $16 million. Days before the announcement, Colbert had called that settlement “a big fat bribe” on air.

The merger was approved later in July 2025, installing David Ellison as chairman and chief executive of the combined company.

End of a Franchise

The cancellation ends a CBS late-night franchise that began with David Letterman in 1993. Colbert took over in 2015 after nearly a decade hosting “The Colbert Report” on Comedy Central, and “The Late Show” became the most-watched program in its time slot during much of his tenure.

Media analysts have noted that late-night television faces structural pressures as viewers shift to streaming and short online clips, and other networks have trimmed their late-night schedules in recent seasons.

For many viewers, the finale marked the end of an era in network late-night comedy, which for decades has served as a forum for political satire aimed at presidents of both parties.