CBS Torches Stephen Colbert After His Exit
CBS has officially replaced Stephen Colbert's Late Show with Byron Allen's Comics Unleashed in a new time buy arrangement. This shift has turned a previously unprofitable time slot into a profitable one for the network. Despite conspiracy theories suggesting political motivations for the cancellation, CBS cites financial reasons as the primary factor behind the decision.
- ▪CBS canceled The Late Show due to financial losses of approximately $40 million annually.
- ▪The new arrangement with Comics Unleashed has transformed the time slot from a loss to a profit of $15 million.
- ▪Colbert's final episode drew 6.7 million viewers, but the new show's debut averaged only 1.1 million viewers.
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CBS Torches Stephen Colbert After His Exit Matt Margolis | 12:07 PM on May 30, 2026 Photo by Richard Shotwell/Invision/AP CBS just handed Stephen Colbert the most brutal farewell a network could offer, and it should end all the debate over how and why Colbert got canceled.Byron Allen's Comics Unleashed officially took over CBS's 11:35 p.m. late-night slot on Friday, May 22, under a new "time buy" deal with the network. Under the arrangement, Allen Media Group pays CBS for the time period, handles all production costs itself, and controls the advertising inventory. This means that CBS doesn't have to spend a dime.
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