As the landscape of late-night television prepares for another significant shift, Stephen Colbert, the host of “The Late Show,” is facing the scheduled conclusion of his tenure in May 2026 with a unique and introspective perspective. In a recent detailed interview with GQ, Colbert offered a glimpse into his mindset, articulating the impending finale with a surreal metaphor that captures a blend of anticipation and apprehension. He described the feeling as seeing “a man walking toward me in the dusk and he’s got something in his hand, and I don’t know whether it’s a knife or an ice cream cone, but he’s asking me if I’d like a lick.”

This evocative imagery comes as Colbert and his team work toward the show’s end, a date confirmed by the host on-air in July. When asked about the timeframe of his remaining months, Colbert noted, “The end has a discernible shape, but it still seems like a long way away.” His comments reflect a man aware of the definite conclusion on the horizon but still deeply immersed in the day-to-day process of producing a nightly program. His primary goal, as he has stated, is to “land the plane” successfully, ensuring the show maintains its quality and focus through its final broadcast.

“The Late Show with Stephen Colbert” premiered on CBS in September 2015, with Colbert taking over the prestigious desk from the legendary David Letterman. The show quickly distinguished itself from its competitors, particularly through its sharp political satire and in-depth analysis, which became a cultural touchstone during the Trump administration. Its blend of comedy and commentary garnered numerous accolades, including multiple Emmy Awards, and cemented Colbert’s status as a leading voice in American media. The show’s impending conclusion marks the end of an over-decade-long era for the network and a significant chapter in late-night history.

The official reason for the show’s cancellation, as announced by CBS’s parent company, Paramount, is financial. Reports have indicated that the program, despite its cultural relevance and critical acclaim, has been operating at a loss, costing the company millions of dollars over the last several years. This situation is not unique to “The Late Show,” as the entire broadcast television industry grapples with declining linear viewership, shifting advertising revenue, and intense competition from streaming platforms. The high production costs associated with a nightly, hour-long talk show have become increasingly difficult to justify in the current media climate, prompting networks to re-evaluate their late-night strategies.

However, alongside the official corporate reasoning, a current of public speculation suggests that the decision may have been influenced by political factors. This narrative gained traction after Colbert publicly criticized his own employers on his show for their handling of a $16 million lawsuit settlement with former U.S. President Donald Trump. Some observers and fans theorized that Colbert’s willingness to challenge corporate decisions, especially those involving a contentious political figure, may have contributed to the network’s decision to end the show.

During his conversation with GQ, Colbert directly addressed and dismissed these assumptions. He confirmed that he does not put much stock in the idea that the cancellation was politically motivated, indicating his acceptance of the network’s stated financial rationale. His focus remains squarely on his professional responsibility to the show, its staff, and its audience. By deflecting the political intrigue, Colbert has centered the narrative back on the creative and logistical challenge of bringing a long-running series to a satisfying close.

Colbert’s “knife or an ice cream cone” metaphor serves as a powerful summary of his position. The “ice cream cone” can be interpreted as the sweet reward at the end of a long and successful run—the freedom to pursue new projects, spend more time with family, or simply enjoy a well-earned rest. It represents a positive, welcome conclusion. Conversely, the “knife” symbolizes the inherent risks and pain of an ending: the uncertainty of the future, the dismantling of a creative family, and the harsh realities of a business decision that impacts hundreds of careers. The ambiguity of the metaphor perfectly captures the dual nature of such a significant life transition, where opportunity and loss are inextricably linked. For now, Colbert is walking toward that figure in the dusk, preparing for either outcome while delivering the news with a joke, night after night.