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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

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'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

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Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Arts & EntertainmentStephen Colbert
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Stephen Colbert signs off after 11 years tonight. CBS cites finances, but the Late Show host blames Trump

By
Dave Lozo
Dave Lozo
and
Morning Brew
Morning Brew
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By
Dave Lozo
Dave Lozo
and
Morning Brew
Morning Brew
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May 21, 2026, 1:07 PM ET
Stephen Colbert will host The Late Show for the final time on May 21.
Stephen Colbert will host The Late Show for the final time on May 21.Getty Images—Scott Kowalchyk/CBS

Lord of the Rings and Neutral Milk Hotel enthusiast Stephen Colbert will host The Late Show for the final time tonight, ending an 11-year run at CBS after the network canceled the show for what it said were “purely financial” reasons. But many—including Colbert—believe the cancellation came at the behest of President Trump, a frequent target of the comedian’s jokes and ridicule.

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The top-rated late-night show was informed of its fate last summer, shortly after CBS parent company Paramount settled a $20 billion lawsuit with Trump over its editing of a 60 Minutes interview with then-Democratic presidential candidate Kamala Harris. Colbert called the settlement a “big fat bribe.” Not long after, the FCC approved the Paramount-Skydance merger.

The future of late night: Network TV viewership has been down for everyone in the last decade, as younger audiences gravitate away from appointment TV viewing and toward online clips—something that networks have a hard time monetizing.

What’s next for Colbert? He is scripting a Lord of the Rings film for Warner Bros., a dream project for the longtime Tolkien nerd. He said he has no plans to get into politics, despite a mild endorsement from former President Barack Obama.

What’s next for the time slot? Starting tomorrow, CBS will air Comics Unleashed, a syndicated talk show hosted by businessman Byron Allen.—DL

This report was originally published by Morning Brew.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
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