CBS Replaces ‘The Late Show’ with Byron Allen Comedy

From May 22, CBS will air ‘Comics Unleashed’ (11:35 p.m.–12:37 a.m.) and ‘Funny You Should Ask’ (12:37 a.m.–1:37 a.m.) in the former ‘Late Show’ slot.

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CBS targets $3 billion in cost cuts. Allen Media Group says the two new blocks will save about $150 million a year on production and marketing, not counting the slot fee. The network previously spent $30-$40 million annually on ‘After Midnight.’

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Byron Allen, founder of Allen Media Group, will executive-produce both shows with Carolyn Folks, Jennifer Lucas, Jodi Miller, Peter Steen and Dylan King. CBS TV/Media Chair George Cheeks oversees the one-season deal. Allen is buying a 52 % stake in BuzzFeed for $120 million ($20 million upfront, $100 million promissory note).

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CBS officials say the shift targets a YouTube-driven audience they view as under-monetized. They are confident Allen will stay a partner. Allen notes his format avoids topical jokes, keeping repeat-air ratings down about 14 % versus 52 % for Colbert, and calls the BuzzFeed deal a step toward a free-TV super app.

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Some analysts link the cancellation to politics. It followed Paramount’s $16 million settlement with Donald Trump over a ‘60 Minutes’ interview with Vice President Kamala Harris, which Colbert called a ‘big-fat bribe.’ Critics view the timing as pressure tied to the settlement and the pending Paramount-Skydance merger.

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Allen and CBS cite production savings and falling Late Show revenue as primary reasons. Other reports stress the nearby Trump settlement and merger approval as possible factors. The exact fee Allen pays for the slot remains undisclosed, leaving the net financial impact unclear.

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The May 22 premiere will be Allen’s first appearance in the former Late Show slot, where he will discuss his view of late-night. The BuzzFeed acquisition will close under the $120 million deal, after which Allen plans a free-TV super app, expanded podcasts, and AI-driven content aggregation.

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• “Between the two time periods, they’re saving approximately $150 million+ per year, just on production and marketing,” Allen said. “That does not include what I’m paying [for the time slot]. So it’s a great deal for CBS.” — Byron Allen, Founder, Allen Media Group

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• “They were spending $30 million to $40 million a year on ‘After Midnight.’ And I said, ‘I can save that production money. I can buy the time period, pay you millions of dollars’ and that was it,” — Byron Allen, Founder, Allen Media Group

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• “From day one, I said to the comedians 20 years ago, ‘No political humor, nothing topical, nothing racist, nothing homophobic, nothing sexist. Just straight over the plate, talking about your life, your family, your relationships.’ I said, ‘If it’s going to be funny today, I want it to be funny 20 years from now, 30 years from now, 60 years from now’,” — Byron Allen, Founder, Allen Media Group

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• “I believe in late night. I think the reality is that the reach is still there. But the reach is there primarily on YouTube, which is under-monetized,” — George Cheeks, TV/Media Chair, CBS

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