CBS defends Colbert cancellation by revealing revenue loss
The network announced it was pulling the plug on the iconic program last year because of "financial reasons," and said the decision to end the show after 10 seasons was not a reflection on the years-long host.
By Misty Severi
Published: May 28, 2026 9:36pm
CBS unexpectedly defended its decision to pull "The Late Show With Stephen Colbert" off air, revealing in a statement Thursday that the show was losing approximately $40 million a year.
The network announced it was pulling the plug on the iconic program last year because of "financial reasons," and said the decision to end the show after 10 seasons was not a reflection on the years-long host.
Colbert has also confirmed that he was not replaced as host and that the program was merely being replaced with two back-to-back episodes of Byron Allen’s “Comics Unleashed” instead.
Allen's program is a "time buy," meaning that Allen is paying CBS $15 million to rent the air time, but will keep all ad revenue for himself.
https://justthenews.com/accountability/media/cbs-defends-colbert-cancellation-revealing-revenue-loss
