Stephen Colbert Drops Emotional Bombshell on TODAY Show: ‘No Regrets’ Before CBS Exit, Teases Daring New Venture

In a moment that had morning television viewers teary-eyed instead of reaching for their morning coffee, Stephen Colbert made a stunning confession on NBC’s TODAY Show. On Tuesday, October 1, 2025, the beloved Late Show host bared his soul in an emotional sit-down, breaking the news that his time with CBS will soon come to an end. As Colbert prepares to close the curtain on his late-night chapter in May 2026, the 61-year-old comedy kingpin made a vow: he wants “no regrets.” But what really had viewers buzzing was the mysterious hint he dropped about a daring new project that could reshape television as we know it—one that might reunite some of TV’s biggest stars in a bold new format.

The TODAY Show Moment: Vulnerability and Truth

The stage was set with the usual peppy energy of TODAY, where Al Roker, the weather legend with a contagious grin, introduced Colbert into the fold. The TODAY team, including Savannah Guthrie, Craig Melvin, Jenna Bush Hager, and Sheinelle Jones, wrapped Colbert in a warm embrace, turning the interview into a family-like reunion. Roker’s playful quip, “Stephen, you’re like the funny uncle we never knew we needed,” was met with hearty laughs, setting the tone for what seemed like a lighthearted chat.

However, beneath the casual banter and jokes, something deeper was brewing. Colbert, typically the joker, turned serious, leaning forward and speaking with a rare vulnerability that caught everyone off guard. “Look, folks,” he began, his voice wavering ever so slightly, “I’ve got eight months left on this wild ride with CBS. May 2026 – that’s the curtain call. And I? I want no regrets.” His words, simple yet profound, caused the studio to fall silent, and viewers across the nation could sense that something momentous was unfolding.

For a man known for his sharp wit and political satire, this was a side of Colbert few had ever seen—raw, emotional, and entirely real.

CBS Exit: A Farewell, Not Goodbye

Colbert’s departure from The Late Show had been a subject of speculation for weeks, especially given the changing landscape of television, with streaming platforms and TikTok altering the traditional network format. Rumors had swirled about CBS potentially ending the show, citing the evolving media landscape—a polite way of referencing the rise of digital media.

But rather than hide behind the rumors, Colbert addressed the elephant in the room. “It’s not goodbye to late-night,” Colbert continued. “It’s ‘see you later’ – with a twist.” He hinted at a major transformation in his career, one that could reshape the future of TV and entertainment.

‘Project Phoenix’: The Bold New Venture

Just when fans thought they had heard it all, Colbert dropped a bombshell: “Project Phoenix.” While the details were scarce, the excitement in the room was palpable. Was this a new late-night format? A fresh partnership with former Daily Show host Jon Stewart? Or perhaps something even bolder? Colbert teased that this project could reunite some of television’s most iconic names, creating a new kind of show that could revitalize the TV landscape.

Industry insiders quickly began speculating. Some believe Colbert could be working on a new hybrid format, possibly blending podcast-style interviews with live television. The idea of a “dream-team” late-night show featuring Colbert, Jimmy Fallon, James Corden, and Conan O’Brien began circulating, with a few even daring to imagine Oprah joining the mix for candid conversations in an unfiltered setting.

“It could be the Avengers of late-night,” one Hollywood insider mused. “Picture Colbert, Kimmel, and Conan in a no-holds-barred roast-fest. It’s boundary-pushing, bold, and bankrolled by a mystery mogul. What’s not to love?”

Social media went wild. Fans took to X (formerly Twitter) to share their thoughts, flooding the platform with excitement. “Stephen’s vulnerability? Chef’s kiss. But that project hint? I’m packing my bags for the afterparty!” one tweet read. Hashtags like #ColbertComeback and #NoRegretsReunion trended, signaling the fervor surrounding Colbert’s next move. Fans couldn’t wait to see what came next, eager to be a part of this new chapter in Colbert’s career.

A Heartfelt Goodbye, But Not the End

As the TODAY segment wrapped up, the emotional tone lingered. Roker, ever the heart of the show, pulled Colbert into a warm hug, whispering something that made the host chuckle despite the tears in his eyes. Colbert’s usual sarcasm returned briefly as Craig Melvin cracked a joke about “Colbert-proofing” the weather forecast for emotional downpours. But even in the midst of humor, it was clear that something profound had taken place.

“You’re family, Stephen,” Savannah Guthrie said, her voice steady yet filled with emotion. “Wherever you go, we’ll be watching—and cheering louder than Al’s forecasts.”

For Colbert, this marked the end of an era, but it wasn’t the end of his journey. The TODAY team and the millions of viewers who tuned in that day understood that Colbert’s next chapter was bound to be just as spectacular as his tenure at The Late Show.

The Colbert Legacy: A Reinvention in the Making

Stephen Colbert’s time at The Late Show has been defined by political satire, sharp wit, and groundbreaking moments that reshaped late-night television. But as he prepares for his final months with CBS, Colbert isn’t simply closing the door on one chapter—he’s opening the door to something even bigger. His decision to walk away from late-night television isn’t out of defeat, but rather a desire to reinvent himself.

In a world where television is rapidly evolving, Colbert has made it clear that he’s not afraid of change. His decision to pivot to Project Phoenix is proof that even in his 60s, Colbert is not resting on his laurels. Instead, he’s preparing for one of the boldest reinventions the entertainment world has seen in years.

What’s Next for Colbert and TV’s Golden Age?

As Colbert’s fans eagerly await the release of Project Phoenix, one thing is clear: this isn’t just another career move. It’s the beginning of something truly transformative. A return to the golden age of television? A show that blends music, comedy, and celebrity culture into one unmissable experience? Only time will tell.

But one thing is for sure: Stephen Colbert’s legacy isn’t just about the late-night sketches and political humor. It’s about his ability to connect with audiences, make them laugh, and—now—share his vulnerabilities. The next phase of Colbert’s career will undoubtedly redefine what late-night entertainment can be, and fans will be right there with him, cheering on every new chapter.