The network claimed it was “purely a financial decision.” “We consider Stephen Colbert irreplaceable and will retire ‘The Late Show’ franchise in May of 2026,” CBS executives’ statement read. “We are proud that Stephen called CBS home. He and the broadcast will be remembered in the pantheon of greats that graced late night television.”

If the recently canceled 'Late Show With Stephen Colbert' wins the talk series prize, it won't just be well-earned. It will tee up a piece of delicious live theater.