John Oliver has called the cancellation of The Late Show With Stephen Colbert "terrible news for the world of comedy"

Speaking with journalists in Erie, Pennsylvania, Oliver, 48, said: "I love Stephen, I love his staff. I love that show. It's incredibly sad.

"I am partly excited to see what they're going to do for the next 10 months. It's terrible, terrible news for the world of comedy.

"Late-night shows mean a lot to me, not just because I work in them, but because even growing up in England, I would watch Letterman's show, which of course was Stephen's show, and think about what a glamorous world that was."

Oliver added it had "always been one of the most fun things" to appear on The Late Show - which had previously been helmed by David Letterman from 1982 to 2015 - and said he was looking forward to seeing what would be next for Colbert.

Oliver continued: "So to have got to be on Letterman's show and Stephen's show has been always one of the most fun things, so it's very, very, very sad news.

"I look forward to seeing what he's going to do next because that man will not stop."

Oliver isn't the only late-night host to react to The Late Show's cancellation, as Jimmy Fallon - who fronts The Tonight Show - admitted he was "just as shocked as everyone" to hear Colbert's programme had been axed.

He wrote in an Instagram story: "Stephen is one of the sharpest, funniest hosts to ever do it. I really thought I'd ride this out with him for years to come.

"I'm sad that my family and friends will need a new show to watch every night at 11:30. But honestly, he's really been a gentleman and a true friend over the years, going back to The Colbert Report, and I'm sure whatever he does next will be just as brilliant."

Jimmy Kimmel took aim at CBS after the network shelved The Late Show, and posted on social media: "Love you Stephen. F*** you and all your Sheldons CBS."