“Gutfeld!” Crushes the Ratings as CBS Pulls the Plug on “The Late Show” — Colbert’s Reign Ends, a New King of Late-Night Emerges
In a move that marks the end of an era for late-night television, CBS has announced that it will retire its iconic “The Late Show” franchise in May 2026, bringing Stephen Colbert’s celebrated tenure to a close. The news comes amid a rapidly shifting late-night landscape—one where Fox News’s “Gutfeld!” has surged to the top of the ratings, signaling a new chapter in the genre.
CBS Bids Farewell to a Late-Night Institution
On Thursday, CBS and its parent company, Paramount Global, confirmed that “The Late Show with Stephen Colbert” will air its final season next year. The network cited a “challenging backdrop in late night” as the primary reason for the decision, emphasizing that the move was financial rather than a reflection of the show’s performance or content.
“We consider Stephen Colbert irreplaceable and will retire ‘The Late Show’ franchise at that time. We are proud that Stephen called CBS home,” the network said in a statement. “He and the broadcast will be remembered in the pantheon of greats that graced late-night television.”
CBS further clarified, “This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content, or other matters happening at Paramount.”
“Gutfeld!” Surges to the Top
As CBS prepares to sunset its flagship late-night program, Fox News’s “Gutfeld!” has emerged as the new ratings powerhouse. According to second-quarter figures, “Gutfeld!” averaged an impressive three million viewers per night, outpacing all other late-night competitors. The show, hosted by Greg Gutfeld, also drew 365,000 viewers in the coveted 25-54 age demographic.
Among traditional network late-night shows, “The Late Show with Stephen Colbert” came closest to “Gutfeld!” with nearly 1.9 million total viewers and 280,000 in the key demographic. ABC’s “Jimmy Kimmel Live!” followed with 1.5 million viewers, while NBC’s “The Tonight Show” averaged one million.
These numbers underscore a significant shift in late-night viewing habits and the growing influence of alternative voices in the space.
Colbert’s Emotional Announcement
Stephen Colbert personally addressed the news during Thursday’s taping of “The Late Show” at the Ed Sullivan Theater in New York.
“Before we start the show, I want to let you know something I found out just last night,” Colbert told his audience. “Next year will be our last season. The network will be ending ‘The Late Show’ in May.”
He continued, “It’s not just the end of our show, but it’s the end of ‘The Late Show’ on CBS. I’m not being replaced. This is all just going away. The folks at CBS have been great partners. I’m so grateful to the Tiffany Network for giving me this chair and this beautiful theater to call home. And of course I’m grateful to you, the audience, who have joined us every night.”
A Bittersweet Goodbye
In its statement, CBS expressed deep appreciation for Colbert and his team:
“Our admiration, affection, and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult.”
Colbert, who succeeded David Letterman as host in 2015, leaves behind a legacy of sharp wit, insightful interviews, and cultural impact. Under his stewardship, “The Late Show” became a nightly destination for millions, especially during turbulent political times.
The Future of Late-Night
The decision to end “The Late Show” reflects both the economic pressures facing traditional broadcast television and the changing tastes of late-night audiences. With “Gutfeld!” now leading the ratings, the late-night landscape appears primed for further evolution, as new voices and formats continue to emerge.
As CBS prepares to dim the lights on one of its most storied franchises, viewers and industry insiders alike are left to reflect on the end of an era—and to wonder what the next act of late-night television will bring.
