TV hosts and celebrities are reacting to news of the cancellation of "The Late Show with Stephen Colbert" and the entire franchise.

There was truly nobody like David Letterman. The longest reigning late-night host in history, Letterman was quick-witted, irreverent, and hilarious. But it wasn't all laughs—for David Letterman, fame came at a terrible price.

Maybe the “Late Show” decision is purely financial. But after Paramount’s cave over “60 Minutes,” it is hard to trust.

When it was announced in 2014 that Stephen Colbert would succeed David Letterman as host of the CBS “Late Show,” reaction was mixed. Letterman, who retired after helming the talk show for 22 years, had a loyal audience. At that point, Colbert was best known for playing a satirical version of himself on Comedy Central’s “The Colbert Report.”

Just as Stephen Colbert and other late-night comics found their political voice, streaming shifted the power dynamics. As their influence waned, Trump's rose.

After David Letterman retired from hosting The Late Show on CBS in 2015, Stephen Colbert stepped in as host of the show. But now, CBS and Colbert have revealed that The Late Show is ending forever. Not only is Colbert stepping down,

With the hosts Merv Griffin, Pat Sajak, David Letterman and Stephen Colbert, CBS has taken many runs at late-night TV. Some were more successful than others.

Colbert, who lives in Montclair, New Jersey, isn’t being replaced, either. CBS is axing the “Late Show” entirely. The iconic program, which was previously hosted by David Letterman, has been on the air for nearly 32 years.