Washington, July 19 -- Jimmy Fallon has shared his reaction to the surprise cancellation of 'The Late Show with Stephen Colbert,' calling the news "shocking."

Fallon, who hosts 'The Tonight Show,' took to his Instagram Stories to share his thoughts. Clearly moved, Fallon admitted he was "just as shocked as everyone" to hear the news. He went on to speak about their long friendship, calling Colbert "one of the sharpest, funniest hosts to ever do it."

"I'm just as shocked as everyone. 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...