Stephen Colbert has revealed his stunned reaction to The Late Show being cancelled after 11 seasons – just two days before his final episode airs.
Fans were left stunned when Colbert, 62, shockingly announced on July 17 last year that Paramount/CBS would not be renewing his contract after 11 years, and that they would end the late-night program after 44 years on the air.
At the time, the network claimed it was ‘purely a financial decision,’ but the cancellation came days after Colbert called Paramount/CBS’s $16 million lawsuit settlement with President Donald Trump ‘a big fat bribe.’
Paramount was also in the midst of a multibillion-dollar merger with the movie studio Skydance, which requires the government approval of the Federal Communications Commission (FCC) – with Bari Weiss later appointed as editor-in-chief of CBS News.
Now Colbert has revealed for the first time how he learned from his manager that he was out of a job.
He told People he was laying down with a sock over his eyes as he rested before he had to go on stage when he got the bad news: ‘I sat up and I said, “I’m sorry, I’m awake. Could you say that one more time?”‘
Stephen Colbert has revealed his stunned reaction to The Late Show being cancelled after 11 seasons – just two days before his final episode airs. Seen on May 7 in NYC
Fans were left stunned when Colbert, 62, shockingly announced on July 17 last year that Paramount/CBS would not be renewing his contract after 11 years – he told People why he believes the axe ‘might have saved his life’
But these days he feels as if CBS really ‘saved my life’ by ending The Late Show. ‘It takes a lot of bone marrow to do the show every day, and now I’ll be stepping down with enough time, enough energy to do other things that I want to do,’ he offered.
The star now has more time to spend with his three adult children, Madeleine, 30, Peter, 28, and John, 24, whom he shares with wife of 32 years, Evelyn McGee Colbert.
Colbert added that after his Late Show duties are over, he will attend his brother’s wedding then get to work on writing the new Lord Of The Rings movie. Apart from that, the comedian said he is ‘available’ for hire.
This comes amid news from Puck that The Late Show – which reportedly loses $40 million a year – is on track to post their least-viewed January on record with just 285,000 viewers, the worst in the show’s 10-year history.
When Colbert first announced in July 2025 that The Late Show was canceled he kept his response classy, saying: ‘I do want to say that the folks at CBS have been great partners.’
The Late Show will be replaced by Comics Unleashed with Byron Allen, a comedy talk show that will not have political commentary.
Celebrities are helping Colbert bring the show to a close this week.
Tuesday’s episode will feature Jon Stewart and Steven Spielberg, plus a ‘special performance’ by David Byrne and Colbert. Wednesday’s episode will include a performance by Bruce Springsteen. Thursday’s finale will be a surprise as the guests have yet to be announced.
Colbert has seen many A-list stars on his set including Jennifer Aniston in September 2025
And he chatted with Meryl Streep earlier this year
Seen with Barack Obama
Colbert told the magazine that his sign off will be ‘simple.’
His’s rivals, Jimmy Kimmel Live! and The Tonight Show with Jimmy Fallon, will both air reruns on Thursday night out of respect for the departing star.
Colbert added that he is grateful for his 11 seasons in the historic setting.
‘I tried never to take for granted filming in the Ed Sullivan Broadway theater, having that tremendous audience, or having the ability to work with the funniest people I know every day and make jokes about the things that make me most anxious,’ the star told the magazine.
Colbert feels CBS ‘saved my life’ by ending the show. ‘I’ll be stepping down with enough time, enough energy to do other things that I want to do,’ he said. With George Clooney in April
His departure
New editor-in-chief Bari Weiss was appointed in October to oversee an ongoing overhaul of the network, with the elevation of Dokoupil, Diaz, and O’Grady her doing.
Immediately after the show ends, Colbert will be hosting a Fired and Festive wrap party for the Late Show.
As reported by Variety, invites for the bash are topped with the show’s red, white and blue logo which has been tweaked to saw: ‘The LAST SHOW with Stephen Colbert’.
The invitations add: ‘That’s a WRAP! (PARTY)’.
The dress code is said to be ‘Fired and Festive’, and the event will take place at a nearby event space close to the Ed Sullivan Theater in New York City.
It has been reported that there will be ‘many celebrities’ at the after party, which is being taped.
Last week, Colbert was joined by his predecessor Letterman, who launched the Late Show in 1993 and hosted the iconic program for 22 years.
This comes amid news from Puck that the show is on track to post their least-viewed January on record with just 285,000 viewers. Seen with Anne Hathaway
During the special episode, the pair ended up on the roof of the Ed Sullivan Theater, where they had members of the crew throw pieces of furniture over the top and onto a giant CBS logo on the ground below.
Letterman quipped: ‘I thought maybe tonight’s occasion would be a little sad, being the end of your run here, but this brings true joy to my heart.
‘We are up here for the wanton destruction of CBS property.’
The pair took the two chairs for the guests and Colbert’s seat from behind his desk and chucked them over, before adding watermelons and cake into the mix.
Letterman added: ‘I’d like to say to the audience before we go, well, not necessarily to the audience, but to the folks at CBS: In the words of the great Ed Murrow, good night and good luck motherf*****.’
