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.

CBS has announced it will end “The Late Show with Stephen Colbert” after the next TV season, calling it a “financial decision.” This marks the end of decades of original late-night programming on CBS,

Ten years on, CBS has snatched the crown off its head. The network appears to have grown so dismayed with the state of late-night television that it has unceremoniously canceled one of the genre’s most successful stalwarts: In a statement last night,

The end of the 'Late Show' franchise is a major blow for a once-beloved TV format, which has lost relevance and advertising dollars.

The late night host looks ahead to the next 10 months, assuring his crew and studio audience, "It's going to be fun."