CBS Says Late-Night Deal With Byron Allen Will Generate $15 Million in Profit

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All three left-leaning outlets focused on the financial implications of the deal, emphasizing CBS's defense of the time buy and the profitability of Allen's programming. Variety highlighted the projected profit, while The Hollywood…

Brian Steinberg· May 29, 2026 · 12:25 AM UTC ·4 min read · 0 reactions · 0 comments · 36 views

CBS Says Late-Night Deal With Byron Allen Will Generate $15 Million in Profit

#television #entertainment #business

TL;DR · WeSearch summary

CBS has announced a new late-night deal with Byron Allen that is projected to generate $15 million in profit. This move comes after the cancellation of Stephen Colbert's long-running 'Late Show,' which was losing approximately $40 million annually. The network aims to shift its late-night programming strategy to improve profitability while facing criticism over the cancellation decision.

Key facts

▪CBS's partnership with Byron Allen is expected to turn a $40 million loss into a $15 million profit.
▪The decision to cancel Stephen Colbert's 'Late Show' has drawn significant criticism from industry insiders and former hosts.
▪Allen's new show, 'Comics Unleashed,' debuted to lower ratings compared to Colbert's finale, which attracted over 6.7 million viewers.

How this story was covered

3 outlets in our directory ran this story, first to last over 1 hour. All of the coverage we found sits in one bucket: lean left. That one-sidedness is itself worth noticing.

Lean left · 2

▪ CBS Defends Byron Allen Time Buy, Discloses Financials On ‘The Late Show With Stephen Colbert’s Annual Loss & ‘Comics Unleashed’s Profit — Deadline
▪ CBS Says Late Night Will Now Turn a $15 Million Profit After Byron Allen’s Time Buy — The Hollywood Reporter

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Variety files mainly under film tv. We currently carry 661 of its stories.

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Original publisher	Variety
Canonical URL	https://variety.com/2026/tv/news/cbs-late-night-deal-byron-allen-15-million-profit-1236761806/
Publication time	Fri, 29 May 2026 00:25:25 +0000
Retrieval time	2026-05-29T00:29:38.907Z
Last seen	2026-05-29T00:29:38.907Z
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Opening excerpt (first ~120 words) tap to expand

Home TV News May 28, 2026 5:25pm PT CBS Says Late-Night Deal With Byron Allen Will Generate $15 Million in Profit By Brian Steinberg Plus Icon Brian Steinberg Senior TV Editor bristei Latest Cecilia Vega, Fired From ‘60 Minutes,’ Says She Fears ‘For The Future of the Legendary Broadcast’ 2 hours ago Nick Bilton, New ‘60 Minutes’ Boss, Wants Newsmagazine to Stick on Digital, Mobile Screens 3 hours ago CNN Plans New Anderson Cooper-Andy Cohen Event for ‘Independence Eve Live’ 5 hours ago See All Allen Media Group How to make big, well, some bucks in late night? According to CBS, the trick is to cancel your traditional show and lease the time to someone else.

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