CBS Says Late Night Will Now Turn a $15 Million Profit After Byron Allen’s Time Buy
CBS has announced that it will now turn a $15 million profit on late night programming following Byron Allen's acquisition of the former Late Show timeslot. The network stated that the previous programming model was unsustainable, leading to the cancellation of Stephen Colbert's Late Show. Allen's new 'time buy' model allows his company to cover production costs while generating profit for CBS.
- ▪CBS expects to turn a $15 million profit on late night programming due to Byron Allen's time buy.
- ▪The previous programming model was deemed cost prohibitive, resulting in the cancellation of Stephen Colbert's Late Show.
- ▪Allen's company is responsible for production costs and sells advertising for the timeslot, making it profitable for CBS.
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Byron Allen Shutterstock for Advertising Week New York Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment CBS says that it now expects to turn a $15 million profit on late night, thanks to Byron Allen‘s time buy of the former Late Show timeslot. In a statement late Thursday, a CBS spokesperson said that late night had become “cost prohibitive” to continue programming on its own, which ultimately led to the decision to cancel Stephen Colbert’s Late Show.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Hollywood Reporter.
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