Stephen Colbert Made CBS Pay in ‘The Late Show' Finale
The final episode of The Late Show with Stephen Colbert was an emotional, star-studded event. During the celebration, Stephen Colbert had his band play copyrighted music, which requires licenses to air on television and could cost CBS a chunk of money if broadcast without permission.
Colbert's move was an intentional jab at CBS, getting them to pay one last time before leaving the air. He noted that people were sometimes sued by Peanuts for using music without permission, then asked Louis Cato, his band leader, if that was what the band was playing. Sarcastically, Colbert quipped, "Oh no, I hope this doesn't cost CBS any money!" Fans of The Late Show immediately caught on to the dig.
In July 2025, Paramount canceled The Late Show, sparking immediate criticism from fans that Colbert often acknowledged. Many found it suspicious that earlier that same week, Paramount settled a $16 million lawsuit with U.S. President Donald Trump, and the FCC approved the Paramount-Skydance merger. Trump, a frequent critic of Colbert, had been lampooned by the host for years. Critics suspected the cancellation was aimed at appeasing Trump and his administration despite CBS's claim that it was a "purely financial" decision.
The cancellation was surprising, given The Late Show's consistently high ratings. Though Late Night with Seth Meyers faced similar financial challenges, NBC chose to tighten its belt rather than end the show.
After the cancellation announcement, The Late Show continued with its final season during which Colbert repeatedly disparaged CBS, Paramount, and Trump. The finale, however, avoided attacking CBS openly, instead including bits that referenced the controversial cancellation. Colbert's final monologue was one of the few in which he did not call out Trump. The Ed Sullivan Theater was filled with celebrity guests, includingRyan Reynolds, Paul Rudd, Elvis Costello, Bryan Cranston, and Jon Batiste. "Strike Force Five,"-the name of the "alliance" of late-night hosts Seth Meyers, Jimmy Fallon, Jimmy Kimmel, and John Oliver- made an appearance to say goodbye as well. Kimmel notably asked ABC to air a rerun of his show, Jimmy Kimmel Live!, which airs at the same time as The Late Show, so fans would tune in to say goodbye to Colbert with him.
After heartfelt goodbyes to the crew, staff, and audience, Colbert sang "Hello, Goodbye" alongside final guest Paul McCartney, with friends and family joining them on stage. Colbert and McCartney turned off the theater lights, and the show ended with special effects depicting it being sucked into a wormhole. Colbert's final sentiments were thank you and "goodbye".
CBS will donate The Late Show set to Chicago's Museum of Broadcast Communications, where Colbert began his comedy career at Annoyance Theater and Second City. The Late Show timeslot will be filled by Byron Allen's talk show, Comics Unleashed, which the Buzzfeed CEO promises is apolitical. Colbert is moving to the silver screen with a new movie. He is co-writing the script for a sequel to The Lord of the Rings.
This story was originally published by Men's Journal on May 22, 2026, where it first appeared in the Entertainment section. Add Men's Journal as a Preferred Source by clicking here.
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This story was originally published May 22, 2026 at 12:11 PM.