Stephen Colbert Reflects on 'Late Show' Ending After 11 Seasons, Weighs In on Trump and What's Next

Stephen Colbert is preparing for the May 21 finale of 'The Late Show,' wrapping up 11 seasons at CBS and nearly two decades in late night. The cancellation came as a surprise to Colbert, despite CBS urging him to sign a lengthy contract in 2023—he ultimately committed to three years before the plug was pulled. CBS attributed the decision to financial losses of tens of millions annually, citing industry-wide advertising revenue declines and streaming competition, but skeptics have questioned the timing, particularly given Paramount's $16 million settlement with Trump over a "60 Minutes" lawsuit just before the announcement. Colbert acknowledged the suspicion while maintaining he doesn't dispute CBS's rationale, noting the network may have been pressured by its merger with Skydance, which required Trump administration approval.

When Colbert took over from David Letterman in 2015, he actually intended to avoid heavy topical coverage—the network initially discouraged it. But a rocky opening five months and encouragement from longtime producer Paul Dinello pushed him toward news-driven, Trump-critical humor. By the 2016 conventions, he went "all-in," and the strategy paid off with critical raves and higher ratings. Colbert frames this shift with a Clint Eastwood metaphor: he "buried his guns" in the beginning, then dug them back up when he realized audiences loved his political edge.

On the Trump administration's focus on late-night hosts—including Trump calling for Jimmy Kimmel's firing and FCC chairman Brendan Carr scrutinizing guest selections—Colbert argues authoritarians inherently dislike comedians because comedy is "anti-authoritarian by nature." He rejects characterizations of late night as partisan, arguing his criticism of Trump stems from Trump's narcissism and self-interest, not party affiliation. He also pushes back on the idea that he "never makes jokes about Democrats," saying the comparison doesn't hold up.

Looking ahead, Colbert is working on a "Lord of the Rings" movie script for Warner Bros. and expressed deep fondness for live audiences and podcast consumption. At 61, he acknowledges the show consumes "95 percent of my brain," leaving uncertainty about his next chapter beyond his stated desires to do comedy and continue hosting-style work.