A week before Stephen Colbert walks away from The Late Show for good, he brought back the man who started it all. David Letterman returned to the Ed Sullivan Theater on May 14, and the two hosts turned the final days into a chaotic goodbye that CBS probably did not expect.
The network is pulling the plug on The Late Show on May 21. CBS announced the cancellation back in July 2025, saying the show was losing around $40 million every year. But many people do not believe that number. Jimmy Kimmel publicly said there is “not a snowball’s chance in hell that’s accurate.”
The timing of the cancellation also raised questions because it came right before the Ellison family finished buying CBS parent company Paramount. Critics believe Colbert got dropped to make the new bosses happy, especially after he made jokes about the company’s $16 million settlement with President Donald Trump.
Trump celebrated the news on Truth Social, writing, “I absolutely love that Colbert got fired. His talent was even less than his ratings. I hear Jimmy Kimmel is next.”
Letterman made his feelings very clear in a recent New York Times interview, calling CBS executives “lying weasels.” He said Colbert got “dumped” so the merger could go through without problems.
Letterman Walks On Stage And Immediately Jokes About Getting Fired
When Letterman walked out on stage, the crowd gave him a long standing ovation. The 79-year-old comedian now has a big bushy beard that looks like Joaquin Phoenix’s famous look. But he did not waste any time before going after CBS.
“I’m standing backstage, a guy comes over, he says he’s from CBS, and he fires me. What is going on over there?!” Letterman joked.
Colbert played along, replying, “You caught a stray!”
Letterman then got serious for a moment. He told the audience he had every right to be angry.
“I have every right to be pissed off, so I’ll be pissed off here a little bit. This theater, you folks wouldn’t be in this theater if it weren’t for me, and Stephen wouldn’t be here if it weren’t for me. And we rebuilt this theater, and then Stephen came in, and look at this? It’s like the Bellagio. But, listen, as we all understand, you can take a man’s show, you can’t take a man’s voice.”
The crowd cheered loudly at that line. Letterman hosted The Late Show for 22 years from 1993 to 2015 before passing the show to Colbert. He felt a personal connection to the theater and the franchise, and he made sure everyone knew it.
The Two Hosts Worry About The Future Of Late Night TV
Letterman then turned his attention to what happens to other late night hosts after Colbert leaves. He asked, “What I’m really worried about is: What will become of the Jimmys? Are they going to be all right?”
He was talking about Jimmy Kimmel and Jimmy Fallon, two other big names in late night television. Colbert had a funny answer ready.
“We’ve got a plan to put them in a captive breeding program,” Colbert joked.
The joke made the audience laugh, but it also showed how everyone in late night feels nervous about what comes next. Letterman told the New York Times he would be “surprised if it lasts more than a year or so.”
The Conversation Moves To Furniture And Who Really Owns It
Later in the show, Letterman asked Colbert about the chairs they sit on during interviews. Colbert explained the brand of his chair. Then Letterman asked the important question.
“Who owns it?” Letterman said.
Colbert answered without hesitating. “CBS owns everything.”
“Oh, this is CBS property,” Letterman replied.
Colbert kept going. “This all belongs to the Paramount CBS Corporation.”
Then Letterman brought up Skydance, the company that merged with Paramount. “Now, wait a minute. Are they affiliated with Skydance?”
Colbert answered with a smile, “Yes, I believe we are all Sky Dancers now.”
Letterman looked at the furniture and said, “Yeah, this is nice. It’d be a shame if something happened to this.”
The audience knew exactly what was coming next.
The Rooftop Destruction That Went Viral On Social Media
Stagehands started removing couches from the set. Then Colbert and Letterman went up to the roof of the Ed Sullivan Theater. Below them, a giant CBS eye logo was painted on the street.
Letterman looked at the scene and said, “I thought maybe tonight’s occasion would be a little sad, being the end of your run here, but this brings true joy to my heart. We are up here for the wanton destruction of CBS property.”
The two hosts watched as stagehands pushed couches off the roof. The furniture crashed down onto the CBS logo. Then came Colbert’s desk chair. Then watermelons exploded on the ground. Finally, a wedding cake went flying over the edge.
Colbert joked that CBS sent him and Letterman a cake that read “The Late Show 1993-2026.” They destroyed that too.
Before the last drop, Letterman paid tribute to legendary CBS newsman Edward R. Murrow. He twisted Murrow’s famous sign-off into a direct jab at the network.
“Good night and good luck, motherf——!” Letterman shouted.
Colbert turned to Letterman and said, “Thanks so much for creating The Late Show 33 years ago. It’s been a pleasure having you back to destroy some stuff.”
Letterman smiled and replied, “The pleasure is all mine. I enjoy destroying stuff. It’s great, great fun. Thank you for everything you’ve done for our country.”
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Fans React To The Chaotic Goodbye On Social Media
The segment spread across social media within minutes after the episode aired. Fans called the stunt hilarious and meaningful at the same time. Many people saw it as Colbert and Letterman’s final joke on a network that decided to end the show.
Some viewers pointed out that Colbert is leaving as the number one show in late night. Colbert himself made fun of this fact during the episode. “I think we’re the first number one show to ever get canceled,” he said.
CBS released a statement when they announced the cancellation, saying they consider Stephen Colbert “irreplaceable” and will retire The Late Show franchise completely. The network insisted the decision was purely financial and not related to the show’s content or performance.
But after watching Letterman and Colbert throw furniture off the roof onto the CBS logo, it is clear the two hosts do not buy that explanation.
The final episode of The Late Show with Stephen Colbert airs on May 21. Colbert is reportedly moving on to co-write a new installment in the Lord of the Rings film series.
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Stay tuned to VvipTimes for more updates on late night TV changes and celebrity farewell moments.
