CBS Defends Canceling Colbert After Revealing Shocking Late Show Numbers
Hollywood
Updated: May 29, 2026
Summary is AI-generated, newsroom-reviewed
After months of saying the decision was mainly about finances, CBS revealed that Stephen Colbert’s show was losing around $40 million every year.
CBS says its new agreement with Byron Allen is expected to make $15 million in profit for the network.
Even though Byron Allen’s program, Comics Unleashed, has opened with much lower ratings compared to Late Show, CBS is focused on reducing costs and improving profit