CBS Lost $40 Million on Colbert’s Late Show

CBS is facing significant financial challenges with its late-night programming, particularly with "The Late Show with Stephen Colbert," which is operating at a $40 million annual loss. - The overall advertising revenue for late-night television has drastically decreased from $438 million in 2018 to half that amount by 2023. - "The Late Show" costs CBS approximately $100 million per year to produce, contributing to its financial troubles. - CBS executives had been contemplating the future of the show for months, with Colbert's team being informed of potential cancellation around July 4th. - Colbert announced the cancellation on air after being informed by CBS, as the network initially intended to keep the news private. - CBS claims the cancellation is purely a financial decision, despite scrutiny regarding Colbert's recent criticisms of Trump and CBS's corporate dealings. - Colbert's final episode is scheduled for May 2026, with a specific date yet to be confirmed.