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The final days of one of America’s most influential late-night institutions are unfolding in a wave of celebrity tributes, political controversy, and growing suspicion over how a 33-year television legacy is ending. As CBS prepares to shut down “The Late Show With Stephen Colbert,” the mood inside Hollywood and Washington is shifting from nostalgia to concern, with questions lingering about money, power, and political pressure.

A Hollywood Farewell Turns Into a Cultural Moment

What should have been a standard television goodbye has instead become a high-profile cultural event.

Hugh Jackman sang a parody of Neil Diamond’s Sweet Caroline. Bette Midler performed a satirical rewrite of Wind Beneath My Wings. John Lithgow wrote and recited a poem entitled The Mighty Colbert. Jake Tapper hand-delivered a painting of Colbert as Gollum from The Lord of the Rings. And Jimmy Fallon offered a pointed take on Frank Sinatra’s My Way: “And now the end is near / And so you face the final curtain / But Trump, he made it clear / He wants you gone / Of that we’re certain.”

These tributes have turned the Ed Sullivan Theatre in New York into a stage for farewell performances that feel larger than television itself. A growing list of celebrities has made pilgrimages to honor Colbert and what many see as the end of a defining era in American satire.

The Late Show’s final broadcast is set for May 21, closing the curtain on a program that has shaped national conversation for decades.

A Host Who Became a Cultural Antidote

For many viewers, Stephen Colbert, 62, was more than a comedian.

Colbert, 62, has provided a nightly antidote for millions of viewers feeling discombobulated at the end of another day in Donald Trump’s dystopia. He cut through the malign chaos to reassure them that no, it was not them going mad but the world around them. And he offered a contrast in character: where Trump is vainglorious, Colbert is irreverent; where Trump is narcissistic, Colbert exudes empathy; where Trump is indecent, Colbert manifests decency to the core.

That role turned The Late Show into a nightly ritual for audiences looking for clarity, humor, and reassurance in a turbulent political era.

Suspicion Surrounds CBS Cancellation Decision

When CBS announced last July that the Late Show would be cancelled, ending a 33-year television institution hosted first by David Letterman then Colbert, many found the timing suspicious.

The move came just three days after Colbert used his monologue to ruthlessly mock a $16m legal settlement between CBS’s parent company Paramount and Trump – and just a week before Paramount’s $8bn merger with Skydance was approved by federal regulators.

CBS claimed it was “purely a financial decision against a challenging backdrop in late night”. But not everyone accepts that explanation.

Letterman, for one, isn’t buying it. “I’m just going to go on record as saying: They’re lying,” he told the New York Times earlier this month. “They’re lying weasels.”

From Struggling Host to Late Night Leader

The Late Show has long been a centerpiece of American television history.

For a generation late-night TV was ruled by Johnny Carson on NBC. Carson retired in 1992; a year later CBS launched The Late Show with Letterman as host. Colbert took over the desk in 2015 after years of portraying a bombastic political persona on Comedy Central.

His early transition was not smooth.

Bill Carter, the author of four books about TV, including The Late Shift, says: “I thought he was brilliant almost beyond description in his previous late-night show. It was like no one’s ever done. He was doing essentially a sketch for nine years. It was satire on such a high level.”

But adapting from satire to hosting proved difficult at first. Industry insiders say he struggled to find his footing until key changes behind the scenes reshaped the show.

Political America Transforms Late Night Television

The rise of Donald Trump reshaped Colbert’s voice and late-night comedy itself.

Each night Colbert delivered a perfectly honed mini-state of the nation address, caustic, piercing, witty, redemptive, that included his own Trump voice impression. Future historians struggling to comprehend this era could do much worse than study them.

Stephen Farnsworth, a co-author of Late Night With Trump: Political Humor and the American Presidency, says: “If late-night comedy wanted to build a foil, it would look just like Donald Trump.”

He added: “You’re talking about someone who is an extraordinarily target-rich environment for late-night humour: his bluster, his demeanour, his inconsistency, his aggressiveness – all of these things create a very rich environment for mockery. The Arc de Trump, ingested bleach, arguing that an election he lost he didn’t really lose. This is a through-the-looking-glass time in American politics.”

Colbert Rejects Claims of Political Partisanship

Despite criticism, Colbert has pushed back against claims that late-night television has become politically biased.

In a recent New York Times interview, he said: “I don’t have any problem with Trump being a Republican. I have a problem with Trump being a complete narcissist who is only working for his own interest and does not appear to care if the entire world burns. That’s not a partisan position.”

He added: “I have eyeballs and ears, and I think calling late-night partisan is just roughing the ref. And we don’t even want to be refs, but they perceive us as refs. I reject the partisan description. Partisan means you’re never, ever going to make a joke about a Democrat, and that’s just not true. There’s just no comparison of how fertile the fields are.”

A Human Voice Behind the Comedy

Beyond politics, Colbert’s appeal has always been deeply personal.

David Litt, a former Obama speechwriter, said: “He’s been an important satirical voice but I actually think he has also been an important moral voice. We’re not living in particularly kind times and Colbert always obviously had a strong point of view, which is why Trump worked so hard to get him cancelled, but he also seemed like there was a fundamental kindness to him, and a generosity.”

That sense of humanity traces back to tragedy. Colbert lost his father and two brothers in a plane crash when he was 10 years old, a loss that shaped his emotional depth and public presence.

Bill Carter noted: “That is true of Stephen. He is a very human guy, a very deep guy, and he did suffer a terrible loss when he was a child and it shaped him.”

Political Pressure, Corporate Decisions, and Fallout

Even as ratings remained strong, CBS moved forward with cancellation, raising broader concerns about media independence.

Trump had sued Paramount over a 60 Minutes interview with Vice-President Kamala Harris. Critics widely viewed the settlement as an attempt to clear hurdles ahead of Paramount’s pending sale to Skydance Media.

Trump’s response to The Late Show’s demise was immediate. On Truth Social he said: “I absolutely love that Colbert got fired. His talent was even less than his ratings. I hear Jimmy Kimmel is next. Has even less talent than Colbert!”

What Comes Next for Late Night Television

The Late Show will be replaced by Comics Unleashed, signaling a major shift in CBS programming strategy.

Bill Carter described the move as a retreat from traditional late-night ambition, suggesting it reflects deeper industry uncertainty about the future of the format.

Stephen Farnsworth warned of a chilling effect on political comedy and broadcast television, pointing toward increasing corporate pressure and regulatory scrutiny.

An Uncertain Future for Colbert

Despite the cancellation, Colbert’s career is far from over.

He is reportedly developing a script for a new Lord of the Rings film and has discussed potential future roles ranging from podcasts to Broadway to streaming platforms.

As one producer noted, there may be a third act waiting, but its shape remains unknown. What is clear is that Colbert’s departure marks not just the end of a show, but the closing of a chapter in American media where comedy, politics, and public trust became inseparably intertwined.