Stephen Colbert Signs 'The Late Show' Tonight - When The Final Episode Airs, How To Watch & Who Are The Guests

Stephen Colbert will host his final episode of “The Late Show” on Thursday (May 21), marking the end of an 11-year run on CBS and closing a major chapter in American late-night television history. The finale airs at 11:35 PM ET from the iconic Ed Sullivan Theater in New York City.

Colbert took over the show in September 2015, succeeding David Letterman, who hosted the program for more than two decades from 1993 to 2015. CBS has confirmed that it will not be replacing Colbert with a new host, instead choosing to end “The Late Show” franchise entirely.

CBS calls the cancellation a financial decision

Paramount Global, the parent company of CBS, called the cancellation a purely financial move.

The company said the decision was: “purely a financial decision against a challenging late-night backdrop” and unrelated to “performance, content or other matters going on at Paramount”.

However, the decision has sparked debate in media circles, with critics suggesting the move may have been influenced by political considerations due to Colbert’s outspoken criticism of President Donald Trump and the company’s ongoing restructuring surrounding the Paramount-Skydance merger.

Colbert’s legacy: Political satire meets mainstream success

Before joining CBS, Colbert spent nine years hosting “The Colbert Report” on Comedy Central and previously appeared on “The Daily Show” hosted by Jon Stewart.

At CBS, he reshaped “The Late Show” into a politically engaged late-night format that combines comedy, interviews and current affairs commentary. The show consistently ranked among the highest-rated programs in late-night television, with CBS saying it held the No. 1 position for nine consecutive seasons.

In 2023, the show won an Emmy Award for Outstanding Talk Series, further cementing its critical success.

Who are the guests of the last episode

CBS has not revealed any guests for the final episode, so the lineup remains confidential. The official schedule simply lists the broadcast as “Series Finale”.

Industry watchers expect surprise appearances and celebrity cameos, in keeping with the tradition of high-profile finales on late-night television.

Colbert has previously joked about wanting the Pope as a guest and even reportedly wrote to Pope Leo XIV. hoping to land him a gig.

When will the final episode air, how to watch

The final episode will be broadcast live on CBS and streamed on Paramount+ Premium. Basic level subscribers will be able to watch it the next day.

It is scheduled to air in its usual 11:35 PM ET slot, although CBS has indicated that it may be an extended episode.

What is replacing “The Late Show” on CBS?

Beginning May 22, CBS will replace Colbert’s time slot with Byron Allen’s “Comics Unleashed,” a stand-up comedy panel show.

Allen described the cancellation as: “a very unfortunate event” and praised Colbert as: “an American treasure”.

The programming shift signals a major shift in CBS’ late-night strategy, a move away from traditional talk shows toward a more cost-effective comedy format.

Industry response and solidarity

In a rare gesture of cross-network support, NBC’s “The Tonight Show Starring Jimmy Fallon” and “Jimmy Kimmel Live!” from ABC. hosted by Jimmy Kimmel will air reruns on the night of Colbert’s final episode.

The move underscores Colbert’s influence across the late-night landscape and marks the end of a significant era in broadcast television.

Read also | Late-night host Jimmy Kimmel says battle with Trump is costing ABC ‘billions’ show CBS