David Letterman has claimed CBS is replacing the Late Show with Comics Unleashed to avoid having to "spend any money".

The 79-year-old late night icon - who hosted The Late Show from 1993 until 2015 - has weighed in on the programme's cancellation, with his successor Stephen Colbert's show getting replaced by projects from Bryon Allen.

Appearing on The Barbara Gaines Show, Letterman said: "They don't want to spend any money, so they're going to make money.

"They charge Byron Allen some reasonable price. He sells all the advertising for his Comics Unleashed, and it'll be, I think, 90 minutes or two hours of comics talking about funny stuff...

"The show is a pretty good idea. It's all panel. Nobody's doing any stand-up, except they're seated doing stand-up."

After The Late Show ends on May 21, CBS is introducing a two-hour block starting with Comics Unleashed, followed by Funny You Should Ask.

In a previous statement, Allen said: "I created and launched Comics Unleashed 20 years ago so my fellow comedians could have a platform to do what we all love -- make people laugh.

"I truly appreciate CBS' confidence in me by picking up our two-hour comedy block of Comics Unleashed and Funny You Should Ask, because the world can never have enough laughter."

Colbert confirmed the show's fate back in July 2025, when he told his audience the news.

He said in his monologue at the time: "Before we start the show, I want you to 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...

"It's not just the end of our show, but it's the end of The Late Show on CBS. I'm not being replaced. This is all just going away."

The announcement came shortly after he criticised parent company Paramount's $16 million settlement with President Donald Trump and during a time when the studio was waiting for approval for its merger with Skydance.

While CBS insisted the decision to axe the show was "purely financial" and not related to "other matters happening at Paramount", many speculated that that wasn't the case, though Colbert himself has refused to "engage in that speculation".

Speaking to America's GQ magazine, he admitted he has "feelings" about the end of The Late Show but doesn't want to discuss them publicly because the programme won't end until May 2026.

He added: "People can have their theories. I have my feelings about not doing the show anymore, but you'd have to show me why that's a fruitful relationship for me to have with my network for the next nine months, for me to engage in that speculation."