Stephen Colbert’s Final ‘Late Show’ Airs May 21 2026—Watch the Historic Farewell Episode Live

Stephen Colbert’s 11-year run behind the desk of “The Late Show” is set to end with a live finale on Thursday, May 21, 2026, on CBS and Paramount+. According to the network, the Tuesday-through-Thursday lead-up will function as a “victory lap,” featuring archival flashbacks, surprise cameos and Colbert’s trademark monologues before cameras cut for the final time. Although a complete guest list has not been released, insiders say producers are courting political heavyweights, Hollywood A-listers and several of Colbert’s most-watched musical acts to send the show off in style. Why the curtain is falling CBS confirmed last summer that rising production costs and a crowded late-night landscape led to the decision not to renew Colbert’s contract beyond the 2025-26 broadcast season. Colbert, 62, is expected to pivot to a mix of scripted projects and philanthropic work while continuing to executive-produce “Tooning Out the News” and other spin-offs. How to watch • Live broadcast: 11:35 p.m. ET/PT on CBS on May 21. • Streaming: Simultaneous feed on Paramount+; the episode will be available on-demand immediately after. • Social media: Select segments will be posted on “The Late Show” YouTube channel and X account. What happens to the time slot Network executives have yet to announce a successor. Industry chatter links “The Daily Show” alum Hasan Minhaj and CBS Mornings co-host Gayle King to the vacancy, but no pilot deals are reportedly signed. CBS will air guest-hosted specials through the summer while it weighs a permanent replacement, mirroring the strategy used after David Letterman’s 2015 exit. SEO quick facts readers search for • Final episode date: May 21, 2026 • Night of week: Thursday • Where to watch: CBS, Paramount+ • Host tenure: September 2015 – May 2026 (11 seasons) • Possible final guests: Presidents, Hollywood stars, top musical acts (TBA) Fan events and memorabilia Ticket demand for the Ed Sullivan Theater has skyrocketed since the finale date became public, with resale prices topping $2,000. CBS has partnered with Showtime to release a limited-edition vinyl of Colbert’s most popular musical collaborations, while the show’s online store is already selling commemorative mugs and T-shirts emblazoned “The Last Late Show — 5.21.26.” Bottom line Whether you tune in for Colbert’s biting political satire, his immersive “Meanwhile” segments or simply to witness late-night history, May 21, 2026, will mark the end of an era — and the start of a fierce battle for the coveted 11:35 p.m. slot.