Today Show Hosts Reveal Fears About the Future After CBS Cancels The Late Show with Stephen Colbert

The television industry was rocked by CBS’s unexpected announcement that The Late Show with Stephen Colbert will end in May 2026, prompting a candid discussion on NBC’s Today Show about the future of late-night television. Hosts Craig Melvin, Carson Daly, Dylan Dreyer, and Laura Jarrett, joined by entertainment correspondent Chloe Melas, dissected the news, expressing concerns about the broader implications for the industry. However, it was an unscripted confession from one host about quietly preparing for a similar fate at NBC that left viewers stunned and sparked a frenzy of speculation.

CBS, owned by Paramount Global, described Stephen Colbert as “irreplaceable” in their statement, yet confirmed they would retire the Late Show franchise entirely after its historic run. The decision, attributed to financial pressures in the late-night landscape, sent shockwaves through the industry. On Today Show, Melas highlighted Colbert’s resilience, noting, “Other hosts have found success beyond late night. David Letterman had his Netflix show, and Conan O’Brien launched a travel series on HBO Max.” She reassured viewers that Colbert, with his proven track record, “always lands on his feet.” Melvin echoed this sentiment, praising Colbert’s talent and predicting he’d thrive in his next chapter.

The conversation quickly turned to the broader impact of the cancellation, which affects not only Colbert but also the show’s 200-person staff. Melas pointed out the loyalty of Colbert’s team, many of whom followed him from The Colbert Report on Comedy Central to CBS. “They have a year to find new jobs, but CBS could have cut costs differently—maybe reducing staff or cutting a night from the lineup,” she said. Carson Daly raised a pointed question: “Is this a sign of the decline of the late-night franchise across the board, or a one-off tied to the merger?” Melas acknowledged that while the Paramount merger might be a factor, declining late-night ratings are a growing concern, warning that other hosts “should be a little concerned.”

The mood shifted when Daly, in a moment of raw honesty, began to voice his own fears. “Should morning show hosts be concerned about…?” he started, only to be interrupted by awkward laughter from Melvin and Jarrett, who quickly tried to pivot. Melvin deftly changed the subject, asking Dreyer about the weather, but the damage was done. Off-script, as the segment wrapped, sources close to the production revealed Daly quietly admitted to colleagues that he’s been “bracing for something similar at NBC.” This unscripted confession, caught by a hot mic and overheard by crew members, sent shockwaves through the studio and ignited online chatter. Fans on X speculated about the stability of Today Show and other daytime programs, with one user writing, “If Carson’s worried, what does that mean for morning TV?”

CBS’s statement emphasized that the cancellation was “purely a financial decision” unrelated to the show’s performance or content, citing a “challenging backdrop in late night.” The move has fueled discussions about the evolving media landscape, where streaming platforms and shifting viewer habits are reshaping traditional TV formats. For Today Show hosts, the news hit close to home, prompting reflection on their own vulnerability in an industry facing budget cuts and mergers. While Colbert’s next move remains uncertain, his legacy as a late-night titan is secure. Meanwhile, Daly’s candid admission—though fleeting—has left viewers wondering if morning shows could face a similar reckoning. As the television industry navigates this uncertain terrain, the Today Show panel’s discussion underscored a sobering reality: even the most established programs may not be immune to change.