In a shocking move, CBS is ending "The Late Show with Stephen Colbert" next year, potentially exiting the late-night television business altogether. The cancellation will take effect in May 2026, the normal end of the broadcast TV season, the network said. The Thursday night announcement came just two weeks after the parent company of CBS, Paramount, settled a lawsuit lodged by President Trump against CBS News. The settlement " and Paramount's pending merger with Skydance Media " spurred speculation about Colbert's future at CBS. Colbert, after all, is one of the staunchest critics of Trump on television. CBS, however, said in a statement that "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."