Skydance Executive Reveals the Real Reasons Behind The Late Show with Stephen Colbert’s Cancellation

A Skydance executive recently shared insights into the cancellation of The Late Show with Stephen Colbert, much to the surprise of fans. George Cheeks, the Chair of TV Media at Skydance, explained that the late-night advertising market is struggling, making it hard for them to continue the show. He expressed his admiration for Colbert but stressed that they need to manage their investments wisely, focusing on primetime and sports.

The announcement on July 17 cited financial reasons for the show’s end. Colbert later confirmed on social media that the final episode would air in May 2026. He reassured fans that while the show is ending, he wouldn’t be replaced—The Late Show is simply coming to a close.

Since the cancellation news broke, reactions have been swift. Fellow late-night host Jimmy Fallon voiced his concern during his show, suggesting that CBS might face a significant viewer loss. Fallon called it a troubling time for late-night television.

Interestingly, this move reflects a larger trend in the industry. Reports show that late-night TV has been declining in viewership over the years. In 2022, average viewership for late-night shows dropped by about 25% compared to previous years. This decline has been linked to changing viewer habits, particularly the rise of streaming platforms.

Looking ahead, Colbert won’t be disappearing from CBS completely. He will guest star as a fictional late-night host in an upcoming episode of Elsbeth, a mystery series that airs on CBS. This show is a spinoff of The Good Wife and The Good Fight, featuring a quirky attorney who often finds herself embroiled in murder investigations. Fans can catch Colbert in this role starting October 16.

The cancellation of The Late Show marks the end of an era for many viewers who have been tuning in since its inception in 1993 with David Letterman. As the landscape of late-night television shifts, it’s clear that changes are happening. Understanding these trends can provide insight into the future of entertainment.

For more on the declining trends in late-night television, you can check out this report from Nielsen.

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