It was a casualty of audience migration — away from legacy television toward streaming, social media and podcasts.

CBS will end "The Late Show with Stephen Colbert" and retire "The Late Show" franchise in May 2026, the company announced Thursday.

There may be no tougher — and sought-after — gig than hosting a network late-night TV show. Stephen Colbert joined that rarefied list of late-night hosts in 2015, when he took over CBS’s “The Late Show” from David Letterman.