Home / Arts and Entertainment / CBS Admits $40M Yearly Loss on Colbert Show
CBS Admits $40M Yearly Loss on Colbert Show
30 May
Summary
- CBS claims Stephen Colbert's show lost $40 million annually.
- New deal with Byron Allen projected to generate $15 million profit.
- David Letterman questions network's financial claims.
CBS has disclosed the financial reasons behind ending The Late Show with Stephen Colbert, stating the program incurred an annual loss of around $40 million. The network anticipates its new agreement with Byron Allen will generate $15 million in profit, creating a near $55 million swing.
This strategic shift prioritizes cost reduction and profit improvement over chasing high ratings, as evidenced by the lower performance of Allen's program, Comics Unleashed. David Letterman has publicly questioned CBS's explanation, suggesting the show's cancellation was linked to the potential sale of the network to Skydance, not financial difficulties.
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