In a shocking turn of events, CBS has announced the retirement of The Late Show with Stephen Colbert, marking the end of an era in late-night television. The network’s decision to end Colbert’s tenure in May 2026 comes amid a changing landscape for late-night programming, as competition from newer shows has grown fiercer. The move marks a dramatic shift, signaling a change in the late-night TV pecking order. As CBS prepares to say goodbye to The Late Show, Fox News’ late-night show, Gutfeld!, hosted by Greg Gutfeld, has emerged as the dominant force in late-night ratings.

CBS Announces the End of an Era

CBS made the announcement on Thursday that The Late Show would wrap up in May 2026, closing the book on Stephen Colbert’s time hosting the franchise. The network cited a “challenging backdrop in late-night television” as the primary reason behind this significant move. The Late Show had been a staple of late-night TV since Colbert took over the reins from David Letterman in 2015. Despite Colbert’s undeniable success, CBS admitted that the late-night landscape had changed, with a growing number of viewers flocking to alternative formats.

“We consider Stephen Colbert irreplaceable and will retire The Late Show franchise at that time. We are proud that Stephen called CBS home,” said CBS in an official statement. The network further emphasized that the decision was purely financial and did not reflect any issues with the show’s content or performance. However, the shift undoubtedly underscores the challenges that traditional late-night television faces in the age of streaming platforms and shifting viewer habits.

Gutfeld! Takes the Late-Night Lead

In stark contrast to CBS’s announcement, Fox News’ Gutfeld! has seen an explosion in popularity, dominating second-quarter ratings with an impressive average of three million viewers. This surge has positioned Greg Gutfeld’s show as the undisputed leader of late-night television, outpacing long-established shows like The Late Show and The Tonight Show. In addition to its massive total viewership, Gutfeld! has secured an impressive 365,000 viewers in the key 25-54 age demographic, a critical group for advertisers.

This leap in ratings is a testament to Gutfeld’s growing influence and the show’s unique position in the late-night landscape. Unlike many of his competitors, Gutfeld has taken a less political approach to his comedy, which has resonated with audiences looking for something different. Gutfeld! has successfully carved out a space in a genre traditionally dominated by more straightforward political commentary, allowing it to attract a broader, more diverse audience.

Comparatively, The Late Show with Stephen Colbert came closest to Gutfeld!‘s viewership, averaging nearly 1.9 million total viewers. While Colbert’s show had a loyal fan base and significant cultural influence, it paled in comparison to Gutfeld’s impressive audience numbers. In contrast, ABC’s Jimmy Kimmel Live! averaged 1.5 million viewers, and NBC’s The Tonight Show saw only 1 million viewers on average—both far behind the new late-night kingpin.

Colbert’s Emotional Announcement

In his Thursday night taping, Stephen Colbert shared the news of The Late Show‘s end with a visibly emotional studio audience. “Before we start the show, I want to let you know something I found out just last night,” Colbert began. “Next year will be our last season. The network will be ending The Late Show in May.”

Colbert’s message was candid, acknowledging that the decision to retire The Late Show was not only the end of his show but also the end of an era for CBS. “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,” he continued. Colbert expressed his deep gratitude to CBS for the opportunity to host the show and thanked his audience for their support over the years. His announcement was met with a mix of sadness and admiration, as fans reflected on the indelible mark Colbert had left on late-night television.

For Colbert, hosting The Late Show had been a defining part of his career, following his success as host of The Colbert Report. Despite the network’s decision to end his late-night run, Colbert took the news with grace and humor, staying true to his signature style of balancing humor with poignant moments.

A New Era in Late-Night Television

The decision by CBS to retire The Late Show and the rise of Gutfeld! signal a broader shift in the landscape of late-night television. With changing viewer habits, particularly the younger generation’s increasing reliance on digital content, late-night shows are facing an existential challenge. The success of shows like Gutfeld!—which has gained a loyal following among those frustrated with traditional late-night comedy—reflects a shift in what audiences want from their late-night entertainment.

While Colbert’s departure marks the end of an era for CBS, it opens the door for new possibilities in late-night programming. Fox News’ Gutfeld! is poised to continue leading the charge as the late-night television scene evolves, appealing to a broad, diverse demographic that is hungry for something different. Whether this is a temporary surge or the beginning of a new trend remains to be seen, but Gutfeld!’s success undeniably signals the dawn of a new era for late-night television.

The Impact of “Gutfeld!”

What makes Gutfeld! so popular, particularly in comparison to its competitors, is its willingness to break from the norms of late-night TV. While Colbert, Kimmel, and Fallon often focus on political satire and cultural commentary, Gutfeld! is a blend of sharp wit, humor, and a less overtly political tone, which has made it accessible to a wider range of viewers. Gutfeld’s background as a comedic journalist allows him to weave in clever, observational humor while also offering up his takes on trending issues, all without the heavy political slant that can sometimes alienate viewers.

The show’s popularity, particularly in the key 25-54 age demographic, is indicative of a larger cultural shift. As viewers grow tired of the same old late-night formula, Gutfeld! has managed to carve a unique space where lightheartedness meets intelligent commentary, resulting in a winning formula that resonates with audiences who feel underserved by traditional programming.

The Future of Late-Night TV

As Fox News rides the wave of Gutfeld!’s success, CBS has already begun preparing for the next phase. While the network has not yet revealed what will replace The Late Show after its conclusion, the writing on the wall suggests that traditional late-night formats are being reexamined. CBS’ decision to end The Late Show could prompt other networks to rethink their programming, particularly as streaming services continue to grow in popularity.

For now, all eyes will be on Fox News, as Gutfeld! continues to dominate ratings and redefine what late-night television can be. Whether this marks the beginning of the end for the traditional late-night format or signals a shift toward more dynamic, diverse programming remains to be seen. But one thing is certain: Gutfeld! has cemented itself as a late-night force to be reckoned with.