When it was announced in 2014 that Stephen Colbert would succeed David Letterman as host of the CBS “Late Show,” reaction was mixed. Letterman, who retired after helming the talk show for 22 years, had a loyal audience. At that point, Colbert was best known for playing a satirical version of himself on Comedy Central’s “The Colbert Report.”

The late night host looks ahead to the next 10 months, assuring his crew and studio audience, "It's going to be fun."

Colbert shared the news with his studio audience ahead of the show Thursday, telling them CBS canceled the show. Read what he said.