CBS could not figure out a path to profitability in an entertainment world increasingly dominated by streaming.

A new report from Puck's Matt Belloni is shedding light on the finances that led to CBS' bombshell cancellation of "The Late Show with Stephen Colbert."

TV hosts and celebrities are reacting to news of the cancellation of "The Late Show with Stephen Colbert" and the entire franchise.

"Next year will be our last season,” the late-night talk show host announced Thursday, July 17. "The network will be ending 'The Late Show’ next May."

Prominent political figures as well as Hollywood stars have reacted with disgust over the news that 'The Late Show With Stephen Colbert' will end its run in 2026.

Stephen Colbert took viewers by surprise this week when he announced The Late Show would be heading for the big TV schedule in the sky. The long-running series, which he has hosted since 2015, will leave screens next May. And not because Colbert is being replaced by a new presenter - the show is ending altogether.

Before Stephen Colbert's "Late Show" was canceled, Jon Stewart hadn't "heard anything" about whether his Comedy Central show would be canceled.

The president on Friday openly basked in the news and suggested that Jimmy Kimmel might be "next" in losing his late night job.