CBS executive George Cheeks said Stephen Colbert's "Late Show" cancellation was due to economic challenges and declining late-night advertising revenue.

Stephen Colbert has seemingly pitched himself to Netflix and Amazon following the cancellation of The Late Show. The late-night veteran is not shying away from the fact that he won’t have a job when his show ends in May 2026, and used the final Late Show episode before its summer hiatus to court potential new employers.