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Brian Steinberg
Senior TV Editor
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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.
The Paramount Skydance broadcast outlet, which has been grilled for weeks over its decision to oust Stephen Colbert and cancel its long-running “Late Show,” says the move will swing its wee-hours business to a profit from a loss.
“We’re proud to partner with Byron Allen on a new business and programming model for late night that proactively addresses a network daypart that was cost prohibitive to continue,” the company said in a statement Thursday. “With this ‘time buy’ model, we have shifted an hour that was losing roughly $40 million annually to $15 million in profit — a $55 million swing.”
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