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

Colbert, 61, announced the news during the Thursday, July 17, episode taping of his late night show, saying, “Before we start the show I want to let you know something that I found out just last night. Next year will be our last season, the network [CBS] will be ending The Late Show in May.”

Even CNN’s Brian Stelter, no fan of Trump, said as much, writing: “The bottom has indeed been falling out of the late-night TV business model for several years now. Audience fragmentation and digital competition have led to a decline in ad revenue across the board. One insider described it as ‘cratering’ at CBS.”