In a wholesale late-night talk show change, CBS is exiting the space with the cancellation of the Late Show With Stephen Colbert, sunsetting the franchise that launched in 1993 with David Letterman as host.

In a shocking move, CBS is ending “The Late Show with Stephen Colbert” next year, and apparently exiting the late-night television business altogether. The network, citing financial pressures,

Stephen Colbert announced at the Thursday evening taping of “The Late Show with Stephen Colbert” that his show would be canceled at the end of the season.