Stephen Colbert Concludes 'The Late Show' with Paul McCartney Performance

Stephen Colbert concluded his 11-year tenure as host of "The Late Show" on May 21, 2026, with a finale featuring an array of celebrity guests and musical performances. The episode, which extended beyond its usual runtime, marked the end of the 33-year-old late-night franchise.

The final show opened with Colbert expressing gratitude to his staff and audience, referring to the program as "The Joy Machine." He emphasized the dedication and camaraderie of his team, stating, "We call it the Joy Machine because to do this many shows, it has to be a machine. But the thing is, if you choose to do it with joy, it doesn’t hurt as much when your fingers get caught in the gears."

Throughout the evening, Colbert was joined by numerous celebrities, including Bryan Cranston, Paul Rudd, Tim Meadows, and Tig Notaro, who participated in comedic segments. A notable moment occurred when Paul McCartney appeared as the final guest. McCartney reminisced about The Beatles' first U.S. television appearance at the Ed Sullivan Theater in 1964 and presented Colbert with a framed photo from that performance. The two discussed the historic event, with McCartney recalling, "We’d never been to America; we come here and people said this is the biggest show. To tell the truth, we’d never heard of it."

The episode featured musical performances, including McCartney and Colbert singing "Hello, Goodbye," accompanied by Elvis Costello, former bandleader Jon Batiste, and current bandleader Louis Cato. The performance culminated with staff members joining on stage for a sing-along. In a symbolic gesture, Colbert and McCartney turned off the lights of the Ed Sullivan Theater, concluding the show.

The finale also included a segment where Colbert explored a fictional wormhole, with appearances by Neil deGrasse Tyson and fellow late-night hosts Jimmy Kimmel, Jimmy Fallon, Seth Meyers, and John Oliver. The episode blended humor, nostalgia, and reflections on the show's impact.

CBS announced that "The Late Show" franchise would conclude due to financial considerations, with "Comics Unleashed" set to occupy the 11:35 PM time slot starting May 22, 2026. The network cited declining viewership and advertising revenue as factors in the decision.

Colbert's departure elicited reactions from various public figures. Former President Donald Trump criticized Colbert on social media, while celebrities and politicians praised the host for his contributions to late-night television and political satire.

The Ed Sullivan Theater, which has hosted "The Late Show" since 1993, remains a historic venue. Its future use has not been announced, but its landmark status requires it to continue functioning as a theater.

Colbert's final episode served as a tribute to his tenure and the legacy of "The Late Show," blending entertainment with reflections on the program's cultural significance.