Colbert, who lives in Montclair, New Jersey, isn’t being replaced, either. CBS is axing the “Late Show” entirely. The iconic program, which was previously hosted by David Letterman, has been on the air for nearly 32 years.

CBS has axed Stephen Colbert's "The Late Show." Here's a look at how his career in comedy led him from "The Daily Show" to Letterman's old seat.

After more than three decades on air, CBS announced on Thursday that its famed "Late Show" franchise is coming to a close.