Letterman says CBS replaced Colbert's 'Late Show' with comedians talking about 'funny stuff' to save money David Letterman, who formerly hosted "The Late Show" himself for decades, accused CBS of replacing Colbert's iteration of the show with "Comics Unleashed" in order to save money. NEW You can now listen to Fox News articles! David Letterman, who hosted "The Late Show" for decades before Stephen Colbert's current iteration, spoke out in a new interview on CBS' decision to replace it, saying