CBS Touts Major Profit Gains by Canceling Stephen Colbert’s Late Show

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This month marked the end of a long-running show, which has been replaced by Byron Allen’s Comics Unleashed. CBS says this change has actually turned a profit for the network, avoiding losses of tens of millions of dollars.

According to a CBS representative, the cancellation of The Late Show was due to its high production costs. The network anticipates a $15 million profit with its new late-night programming strategy. The representative explained that The Late Show with Stephen Colbert cost CBS around $40 million annually, but they expect the new show, Comics Unleashed, to turn things around and bring the network back into profitability, even though it faces a significant challenge.

CBS Says Late-Night Programming Is No Longer Losing Money

We’ve teamed up with Byron Allen to revamp our late-night programming with a new, more affordable approach. Previously, this hour of programming was costing us around $40 million each year. Now, thanks to this new arrangement – where we purchase airtime rather than produce the show ourselves – we’re actually making a $15 million profit, a significant improvement of $55 million.

For two decades, Comics Unleashed has been a syndicated program. When The Late Show was nearing its end on CBS, comedian Tim Allen proposed taking over the timeslot with Comics Unleashed, even offering to purchase it. This arrangement benefits CBS financially, as Allen’s company covers all production costs. Allen then offsets those costs by selling advertising during the show.

Ratings Have Gone Down After the Switch

However, replacing The Late Show with Comics Unleashed has a significant hurdle. Comics Unleashed premiered with around 1.1 million viewers, which is much lower than The Late Show‘s average of 2.7 million during its last season. The final episode of The Late Show drew an impressive 6.74 million viewers for Colbert’s farewell night on CBS. It’s unclear whether Comics Unleashed will attract more viewers in the future, but its initial ratings aren’t very encouraging.

Allen has made it clear he isn’t aiming to take over for Colbert, and he doesn’t anticipate viewers of The Late Show will immediately start watching Comics Unleashed. He also stated that a key difference with his show will be its willingness to directly address criticism of Donald Trump, for better or worse.

In a recent interview with NPR, Allen explained that he isn’t trying to compete with Byron Allen’s existing fanbase. He believes Comics Unleashed has built its own audience over the past two decades and is focused on reaching viewers who are often overlooked. He also highlighted that the show has featured a remarkably diverse range of comedians – more than most other programs.

He understands not everyone will agree with him, especially because he avoids racism, anti-Semitism, sexism, and political bias. However, he’s always known there’s a small group – maybe one or two percent – who will fully support him, and he realized this early in life.

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2026-05-29 04:36