Stephen Colbert has hosted CBS's The Late Show since 2015. (Scott Kowalchyk/Getty Images)Fans, political figures and fellow late-night hosts seemed stunned Thursday night when comedian Stephen Colbert announced that CBS would be ending The Late Show in May 2026, with many questioning what pushed the network and its parent company, Paramount Global, to make the decision.CBS said in a statement that canceling the show was "purely a financial decision" and "is not related in any way to the show's performance, content or other matters happening at Paramount.