As you’ve likely heard, CBS — which is owned by Paramount — has decided to cancel “The Late Show with Stephen Colbert.” Per Reuters, the program is the most-watched late-night show on U.S. broadcast television. However, it will end its 10-year run in May 2026, with the show being retired altogether.

CBS announced on Thursday that 'The Late Show With Stephen Colbert' would end in 2026, but the timing, coincidental or not, comes as Paramount tries to sell itself to Skydance.