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.

“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 will be ending the ‘Late Show’ in May,” Colbert said in the clip, as the audience booed. “And, yeah, I share your feelings. It’s not just the end of our show, but it’s the end of ‘The Late Show’ on CBS.”