Former ‘Tonight Show’ host says Colbert is ‘too talented and too essential to go away’

Conan O’Brien said late-night television is dying but made bold predictions about “The Late Show” host Stephen Colbert’s future during an award acceptance speech Saturday.

O’Brien, known for his “Late Night” and “Tonight Show” hosting stints on NBC from 1993 to 2010, also hosted the TBS talk show “Conan,” which aired for nearly 11 years.

He made the remarks during his induction into the Television Academy Hall of Fame on Saturday.

“Yes, late-night television, as we have known it since around 1950, is going to disappear.

But those voices are not going anywhere. People like Stephen Colbert are too talented and too essential to go away,” O’Brien said.

“Stephen is going to evolve and shine brighter than ever in a new format that he controls completely.”

Fox News host Greg Gutfeld is thriving in late-night, however. In 2025, “Gutfeld!” averaged 3.1 million viewers through July 20, compared to 1.9 million for CBS’ outgoing “The Late Show.”

During that same time period, ABC’s “Jimmy Kimmel Live!” averaged 1.5 million, NBC’s “The Tonight Show starring Jimmy Fallon” averaged 1.1 million, and NBC’s “Late Night with Seth Meyers” managed 751,000.

Colbert took over “The Late Show” on CBS from former host David Letterman in 2015, but the gig has an expiration date.

CBS announced that “The Late Show” will be canceled effective May 2026 with no replacement host being selected for the program.

Many supporters of Colbert have claimed his show was canceled because he was a frequent critic of President Donald Trump and parent company Paramount was trying to curry favor with the Trump administration in order to get approval for a company merger.

Conan O'Brien salutes the crowd on stage while holding a microphone

Conan O’Brien said late-night TV would “disappear.”  (Astrid Stawiarz/Getty Images for SiriusXM)

Trump sued Paramount, claiming that CBS’ “60 Minutes” engaged in election interference by deceptively editing an interview with then–Vice President Kamala Harris during the 2024 presidential election.

Paramount settled with Trump, which led to Colbert joking that the $16 million settlement Paramount paid to the former president was a “big fat bribe.”

“I believe that this kind of complicated financial settlement with a sitting government official has a technical name in legal circles, it’s ‘big fat bribe.’” Colbert joked.

However, CBS execs denied that Colbert was canceled for his politics, and instead pointed to the financial losses the show was incurring.

“The Late Show” reportedly cost network $40 million a year as audiences flee traditional television in favor of streaming.

Stephen Colbert

“The Late Show with Stephen Colbert” will be canceled effective May 2026.  (Photo by Scott Kowalchyk/CBS via Getty Images)

O’Brien, a former writer for “Saturday Night Live” and “The Simpsons,” waxed philosophical about the future of television during his speech.

He struck an optimistic tone that television would endure no matter how new technologies roil the industry, so long as creators are “brave and of goodwill.”

“Technology can do whatever they want. It can make television a pill.

It can make television shows a high-protein, chewable, vanilla-flavored capsule with added fiber.

It still won’t matter, if the stories are good, if the performances are honest and inspired, if the people making it are brave and of goodwill,” he said.