CBS Leases Late Night to Byron Allen After Stephen Colbert Leaves

Key Points:

• CBS will replace "The Late Show With Stephen Colbert" in the 11:35 p.m. ET timeslot with a time buy deal sold to Byron Allen, who will air back-to-back episodes of his "Comics Unleashed" series starting May 22, the day after Colbert's finale on May 21.
• The time buy agreement extends through the 2026-2027 TV season and includes Allen continuing to lease the 12:37 a.m. hour for his comedy game show "Funny You Should Ask," with both shows considered national network programming expected to be cleared by CBS affiliates.
• CBS's decision to end "The Late Show" and move to a time buy model is financially motivated, allowing the network to profit from the late-night slot rather than pay for an expensive talk show, marking a strategic shift toward more economical programming in late night.
• The cancellation of Colbert's show sparked controversy and accusations of political motivation, especially given the timing shortly after Colbert criticized a $16 million settlement between CBS owner Paramount Global and former President Donald Trump, with public figures and unions calling for investigations into potential bribery.
• David Letterman criticized CBS's handling of Colbert's firing as cowardly and disrespectful, highlighting the tension and backlash surrounding the network's late-night programming changes and the end of a franchise that began with Letterman in 1993.