Byron Allen, the media mogul and host of Comics Unleashed, is set to take over the 11:35 pm time slot vacated by the cancellation of The Late Show With Stephen Colbert on CBS. Starting Friday, viewers will see Allen's comedy panel show instead of Colbert's political commentary.
A Unique Deal with CBS
Unlike typical network arrangements, Allen, 65, will pay CBS for the time slot through a 16-month lease agreement. He will also sell advertising for the show himself. Comics Unleashed, which has been running for 20 years, began airing after Colbert's show in September. CBS executives stated that moving Allen's show up will provide immediate profitability for the network, which canceled The Late Show for financial reasons, though some speculate politics played a role. Allen's other show, Funny You Should Ask, will continue to air after Comics Unleashed.
Allen's Expanding Media Empire
Allen recently made headlines for acquiring a majority stake in BuzzFeed for up to $120 million ($20 million upfront and $100 million in five years). His portfolio also includes The Weather Channel and a group of local television networks. In an interview, Allen shared his vision for building the world's largest media company, starting from his dining room table in 1993.
On Replacing Colbert
Allen emphasized that he is not trying to replace Colbert, whom he admires. Instead, his show focuses on pure comedy without political, racist, sexist, antisemitic, or homophobic humor. He noted that political humor repeats see a 52% viewership drop, while his show's repeats are down only 14%, indicating audience preference for non-political content.
Profitability and Cost Efficiency
Allen stated that Comics Unleashed is profitable, as he already produces it for first-run syndication and his cable network Comedy.tv. CBS was spending about $160 million on Colbert and After Midnight, but now Allen pays them millions for the time slot, making it a win-win. He believes late-night TV is generally too expensive, with many shows teetering on cancellation.
BuzzFeed and Cross-Promotion
The BuzzFeed acquisition, which includes Tasty and HuffPost, will allow cross-promotion with CBS late night. Allen plans to leverage BuzzFeed's viral video capabilities and add free streaming of over 30,000 movies and TV shows. He praised HuffPost's journalism and urged them to compete aggressively with The Washington Post. Allen also noted that AI will enable efficiency, with BuzzFeed founder Jonah Peretti staying on as president of AI.
