Media mogul Byron Allen's 'Comics Unleashed' is replacing Stephen Colbert's 'The Late Show' on CBS, with Allen paying the network for the prime 11:35 PM slot in a unique 16-month lease agreement. This move, driven by profitability concerns for CBS, highlights Allen's expanding media empire and his vision for apolitical comedy.
Starting Friday, viewers will find Byron Allen's 'Comics Unleashed' at the 11:35 PM slot on CBS, replacing 'The Late Show With Stephen Colbert.' This unconventional deal sees Allen, 65, paying CBS for the 16-month lease of the time slot while independently selling advertising, a move CBS executives claim ensures 'immediate profitability' after citing financial reasons for Colbert's cancellation. Allen, a seasoned media executive, views this as another strategic acquisition in his quest to build 'the world's biggest media company.' His portfolio recently expanded with a majority stake in BuzzFeed, which includes Tasty and HuffPost, for a deal potentially worth $120 million. He plans to leverage cross-promotion across his properties and introduce free streaming of over 30,000 titles on BuzzFeed. 'Comics Unleashed,' an apolitical comedy panel show running for two decades, focuses on pure laughter without political humor, a strategy Allen believes maintains higher repeat viewership compared to politically charged talk shows. He asserts his show is profitable due to existing production for other platforms, making it a 'gargantuan win' for CBS by saving them significant production costs while generating revenue from the lease. Allen criticizes late-night TV's high expenses, stating many shows are 'about half a rating point from being canceled.' He also emphasizes the role of AI in his future vision, with BuzzFeed founder Jonah Peretti leading AI innovation, suggesting efficiency without needing more staff. Allen is committed to bolstering HuffPost's journalism, challenging it to compete with top-tier news organizations.
