The Late Show with Stephen Colbert has been cancelled after a "historic run".
During the episode of the late-night talk show on Thursday, the host announced that executives at CBS had decided to axe the programme.
The final episode is scheduled to be broadcast in May 2026.
"I want to let you know something I found out just last night. Next year will be our last season. The network will be ending The Late Show in May," he began, as members of the audience started to boo. "Yeah! I share your feelings. It's not just the end of our show. It's the end of The Late Show on CBS. I'm not being replaced. This is all just going away. I do want to say that the folks at CBS have been great partners."
Colbert went on to express his thanks to the staff, crew, band, and dedicated viewers.
"I'm so grateful to the Tiffany Network for giving me this chair and this beautiful theatre to call home. And, of course, I'm grateful to you, the audience, who have joined us every night. I've had the pleasure and the responsibility of sharing what we do every day with you in front of this camera for the last 10 years," the 61-year-old continued. "It is a fantastic job. I wish somebody else was getting it. It's a job that I'm looking forward to doing with this usual gang of idiots for another 10 months."
In a statement, CBS bosses insisted the decision to retire The Late Show franchise was "purely a financial decision against a challenging backdrop in late-night" and not related to the programme's performance, content, or "other matters happening at Paramount".
"We are proud that Stephen called CBS home," they commented. "He and the broadcast will be remembered in the pantheon of greats that graced late-night television."
Colbert hosted the news satire show The Colbert Report on Comedy Central from 2005 until 2014.
He began presenting The Late Show with Stephen Colbert on CBS in September 2015, taking over the slot previously held by David Letterman, who had hosted it from 1993 until his retirement in May 2015.
Colbert has been a vocal critic of U.S. President Donald Trump and recently condemned executives at Paramount, the parent company of CBS, over their decision to settle a lawsuit for $16 million (£12 million) filed by the American leader over the editing of an interview for 60 Minutes with former Vice President Kamala Harris.
Producers have denied all accusations in the lawsuit.
Paramount execs are in the midst of finalising a $8.4 billion merger with Skydance Media, which requires approval from the Federal Communications Commission.