CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.

The decision to cancel "The Late Show" was announced by Colbert during a Thursday taping of the show. Paramount Global Co-CEO George Cheeks, CBS president Amy Reisenbach and CBS Studios presidnt David Stapf quickly released a joint statement,

Prominent political figures as well as Hollywood stars have reacted with disgust over the news that 'The Late Show With Stephen Colbert' will end its run in 2026.

The announcement came days after Colbert spoke out against the $16 million settlement paid by CBS News parent Paramount to settle a lawsuit filed by Donald Trump.

Liberal celebrities and politicians mourned the cancellation of "The Late Show with Stephen Colbert" as CBS claims the decision is purely financial and unrelated to the show's content.

Singer Noah Cyrus performed her new song "Way of the World" on The Late Show with Stephen Colbert Thursday. She wore a long black dress with long black gloves and performed in front of a garden arbor covered in apparent vines.

After being welcomed to the late-night show by Letterman successor Stephen Colbert, Phoenix reflected on the awkward 2009 interview, in which he appeared on "The Late Show" sporting long hair, an unruly beard and sunglasses.