President Trump cheered the cancelation of "The Late Show with Stephen Colbert," saying he "absolutely loves" that Colbert "got fired."

CBS will end "The Late Show with Stephen Colbert" and retire "The Late Show" franchise in May 2026, the company announced Thursday, calling it "purely a financial decision against a challenging backdrop in late night.

Stephen Colbert found out that CBS was canceling The Late Show. Then, the network simply announced the news in a press release the next day, stating that the cancellation was "purely a financial decision against a challenging backdrop in late night.