MANHATTAN (PIX11) — Businesses in New York City are bracing for a financial hit if “The Late Show with Stephen Colbert” ends in May as planned.

Akhil Reddy, who works in the NYC Gifts and Luggage next to the Ed Sullivan Theater, says, “20% of the tourists come from there, after the show.”

Ali Syed, who works at Fresh Bites Organic Snacks, said, “Whenever the line is up, they come in here, they shop everything, they get ready for the show.”

Dozens of employees of “The Late Show” will also be out of work. The Writers Guild of America East represents 24 writers on the show, including Colbert.

Josh Gondelman, a WGA writer on other comedy shows in New York, said, “People have to worry about healthcare, people have to worry what the next job is … there’s a whole staff and crew from hair and makeup to the PAs to the camera operators, and these are good union jobs in New York City.”

On Wednesday afternoon, a rally was held outside the Ed Sullivan Theater by the group Progressive Change Campaign Committee. Organizers said they have gathered 250,000 signatures on a petition at SaveColbert.org. The group walked from the theater down to Paramount’s Headquarters in Times Square to deliver boxes of the petitions.

Adam Green, co-founder of the committee, said, “We want them to know, the public is not going away, there is high scrutiny. It’s about more than one man or one institution. It’s about American democracy, and do institutions cave to Trump in advance?”

CBS and Paramount said the decision to end the show in May 2026 is purely financial. The decision came days after Colbert criticized CBS and its parent company, Paramount, on air for its $16 million settlement with President Trump over his “60 Minutes” lawsuit. Paramount Global is also seeking federal approval for a merger with Skydance Media.