Speaking with his former executive producer, Barbara Gaines, in a YouTube video Friday, Letterman called the axing of The Late Show With Stephen Colbert “pure cowardice” and said he doesn’t believe the official line from CBS that the decision was purely about economics (the show has reportedly become a money-loser for the network).

The curtain is falling on Stephen Colbert's decade-long tenure as host of "The Late Show" - sparking a divide in public opinion, according to new polling. On July 17, CBS News announced it will cancel "The Late Show With Stephen Colbert" in May 2026,