Colbert confirmed the cancellation during a show taping on Thursday. CBS said the move was "purely a financial decision against a challenging backdrop in late night."

CBS said it planned to cancel Stephen Colbert's Late Show after next season, citing the weakening finances of late night

Jimmy Kimmel has come to the defence of his fellow late-night host, Stephen Colbert, following the announcement that CBS has decided to cancel The Late Show. The network confirmed on Thursday (17 July) that the long-running franchise would come to an end, describing the host as “irreplaceable” and citing a “financial decision”.