CBS will end "The Late Show with Stephen Colbert" and retire "The Late Show" franchise in May 2026, the company announced Thursday.

Colbert confirmed the cancellation during a show taping on Thursday. CBS said the move was "purely a financial decision against a challenging backdrop in late night."

CBS said in a statement the cancellation was "purely a financial decision against a challenging backdrop in late night," and was "not related in any way to the show's performance, content or other matters happening at Paramount.