In a shocking move, CBS is ending “The Late Show with Stephen Colbert” next year, potentially exiting the late-night television business altogether. The cancellation will take effect in May 2026, the normal end of the broadcast TV season, the network said.

CBS announced Thursday that it was cancelling The Late Show with Stephen Colbert, citing a “financial decision” — raising eyebrows as the news dropped just weeks after the network’s parent company Paramount announced it had agreed to a $16 million settlement with President Donald Trump.

CBS is nixing “The Late Show with Stephen Colbert,” rocking the late-night TV landscape in a move the network cited as a “financial decision.” “‘The Late Show