The Late Show with Stephen Colbert takes its final bow.

For decades, late‑night television has provided us with a shared end‑of‑day ritual made up of monologues and jokes that shape our political conversations. And, while Stephen Colbert didn’t invent late-night TV, he sharpened it. Last July, when Colbert announced the end of The Late Show franchise on CBS, many wondered what happens when shows that function as cultural town squares begin to disappear. USA TODAY TV Critic Kelly Lawler joins The Excerpt to discuss rising production costs, shifts in viewing preferences and the demise of one of the pillars of late-night television.

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