In a shocking move, CBS is ending “The Late Show with Stephen Colbert” next year, and apparently exiting the late-night television business altogether. The network, citing financial pressures,

The network has called the cancellation “a purely financial decision”—but it feels like only the beginning of the end for an entire genre.

"This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show's performance, content or other matters happening at Paramount," the network said in a statement.