Paul McCartney led an all-star lineup for the final episode of "The Late Show" as frontman Stephen Colbert bowed out after broadcaster CBS cancelled his show as it courted US President Donald Trump.

But one A-lister who eluded the comic to the end was the pope, whom Colbert, a devout Catholic, had long touted as his dream guest.

"The pope, who was definitely my guest tonight, has cancelled," Colbert joked, blaming a dispute over hotdogs before McCartney appeared to rapturous cheers.

The show, which Colbert has hosted since 2015, was axed after he mocked the broadcaster for a US$16 million settlement with Trump for allegedly "maliciously" editing an interview with his Democratic election rival Kamala Harris.

Colbert called it a "big fat bribe."

CBS has insisted the decision to cancel "The Late Show with Stephen Colbert," the ratings leader in the time slot, was purely financial – and that it was a coincidence the move came as CBS parent company Paramount lobbied for government approval of its US$8.4 billion merger with Skydance Media.

Around that time, CBS brought in Bari Weiss, a right-wing journalist without significant TV experience, to run its news division.

In the weeks leading to Thursday's curtain call, 62-year-old Colbert has at times cut a subdued figure, lacking some of his usual cheerful flair.

On Thursday he told the audience that "we were here to field the news with you, and I don't know about you, but I sure have felt it."

Colbert did not mention Trump directly on Thursday, instead using a recurring CGI wormhole gag as a metaphor for the president's impact on US public life.

McCartney sang Beatles mega-hit "Hello, Goodbye" to the capacity crowd at New York's Ed Sullivan theatre where the Beatles performed in 1964 when they made their US debut.

"We thought America was just the land of the free, the greatest democracy. Was. Still is hopefully," he said, wagging his finger at Colbert.

There were cameos from actors Tim Meadows, Paul Rudd, Ryan Reynolds and Bryan Cranston.

Colbert has been coy about his next steps but announced he will be a writer on a future "Lord of the Rings" movie.

Rival late-night hosts all aired re-runs Thursday out of respect for Colbert's swansong, which had an afterparty themed "Fired and festive!" (AFP)



Edited by Tony Sabine