CBS’ decision to cut ties with Stephen Colbert and its decades-old “Late Show” franchise come next May will leave a major hole in the format — but one that has been widening. TV networks have been cutting costs at their late-night mainstays for the past few years.

W hen CBS embarked on the project of replacing David Letterman as the host of The Late Show, in 2014, the network spared no expense. It hired Stephen Colbert, who had collected Emmys and acclaim while hosting his Comedy Central talk show,

Severance stars Adam Scott, Ben Stiller lead celebrity outrage over CBS axing The Late Show with Stephen Colbert - Network claimed move was a ‘financial decision’

Opinion: CBS just proved that when it comes to a "decision," cancelling Colbert was a no-brainer compared to appeasing the dictator Trump, writes .

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.

"The Late Show" will end next May, marking the end of an era, CBS announced. The show has been a late-night staple since 1993. It was hosted by David Letterman until Stephen Colbert took over in 2015.