CBS has not given up on producing an original late-night show, despite having facilitated the departure of Stephen Colbert.
“The Late Show With Stephen Colbert” ends next month after CBS canceled the popular show, citing financial pressures. The network's two top executives told reporters during a news conference in Hollywood on Wednesday that the network still wants to be a player in the 11:35 p.m. hour.
CBS reached a one-year deal with media mogul Byron Allen to bring his syndicated show “Comics Unleashed” to the prominent time slot once occupied by David Letterman until Colbert took over a decade ago. President Trump, in social media posts, has taken credit for taking Colbert, whom he dislikes, off the air.
Colbert's last broadcast will be May 21.
Beyond the tentative deal with Allen, network executives acknowledged they don't have a long-term plan for late-night hours, but development executives are working on it.
“We're still going to develop other ideas, other concepts,” said George Cheeks, whose role as president of TV Media at Paramount includes running CBS. He added that Allen's shows, including “Funny You Should Ask” at 12:35 a.m., will allow the company to immediately turn a small profit, an increasingly critical mandate as CBS prepares to absorb the high cost of keeping NFL football on its programming.
“If we're going to go back to that space, we have to go back to that space with a different financial model,” Cheeks said, in contrast to a show set in a theater with a band, live audience and a large group of writers and support staff to put on a late-night show with numerous guests.
“I grew up late nights; I believe in late nights,” Cheeks said. “The reality is the reach is still there, but the reach is primarily on YouTube.”
It has become increasingly difficult for CBS or other major networks to make money from a current affairs program when most of the audience, particularly younger viewers, watch clips on YouTube.
CBS Entertainment president Amy Reisenbach acknowledged that the network was not actively developing a replacement late-night show; instead, the effort was in the brainstorming stage. “Right now it's just conversations,” he said.
CBS can make money from “Comics Unleashed” because Allen pays CBS by the hour and covers production costs. In exchange, Allen's company receives most of the commercials for the shows, which his company can sell to advertisers to defray their costs.
Cheeks dismissed concerns that Allen's shows, which have been in syndication for years, would not be seen as “CBS-level quality.” He called Allen “a great partner.”
“Comics Unleashed” aired at 12:35 a.m., but CBS is moving it up an hour in the schedule, where it will have more exposure and benefit from airing immediately after the television stations' local breaking news. “Funny You Should Ask” will air at 12:35 am.
“I actually think the shows are strong… They have a point of view,” Cheeks said of Allen's shows. “It's a change of format… a change from what people are used to.”
It's been a tough year for CBS.
The past 12 months have included a nasty dispute with Trump over a “60 Minutes” segment with Kamala Harris, for which Paramount ended up paying the president $16 million. Then came the storm over Colbert's cancellation, a few days after he called the deal with Trump “a big bribe.”
The network got new owners, David Ellison and Skydance Media, in August and Ellison quickly installed a new boss at CBS News, Bari Weiss, who has made talent moves to shake up the division.
Six weeks ago, Paramount prevailed in the bidding war for Warner Bros. Discovery, a deal that will bring more upheaval to Paramount, CBS and Hollywood production.
Due to Paramount's change in ownership last year, the NFL has the ability to reopen the network's television licensing deal, which is expected to increase the cost of retaining the NFL by up to $1 billion a year, which could reduce CBS' programming budget.
“Capital allocation is always an important consideration,” Cheeks said. “But I would like to remember something that David Ellison said recently: that investing in content was a mission-critical for the future of this company.”
CBS unveiled its new fall schedule on Wednesday, announcing that fan-favorite LL Cool J would return to star in a new show, “NCIS: New York,” with Scott Caan, and the introduction of a new legal drama, “Cupertino,” from hit executive producers Robert and Michelle King. CBS will offer two other new shows, including a comedy drama, “Einstein,” and a half-hour vampire family comedy, “Eternally Yours.”
Cheeks also acknowledged that, for the first time in 18 years, CBS would not finish the television season in first place in viewers. This year, that honor goes to NBC, which aired a blockbuster in February with the Super Bowl and the Winter Olympics.
