Ever sinceThe Late Show With Stephen Colbertwas canceled last month, rumors about the decision have been rampant. Among it all, CBS delayed responding directly regarding the decision until now. With the rising interest in thelate-night talk show, CBS' CEO, George Cheeks, had a lot to say in a recent press conference.
According toDeadline,George Cheeks continued to cite financial reasons forThe Late Show’s cancellation, saying the show was losing “tens of millions of dollars.” Cheeks, who is also the Chair of TV Media at Paramount, spoke out after Skydance’s deal with Paramount went through today. Cheeks emphasized the timing of the cancellation had to do with Colbert’s contract ending.
Cheeks also added that it was too soon to reveal what would be taking overThe Late Show’s spot. In any case,Cheeks insisted that it was no longer financially feasibleto continueThe Late Show With Stephen Colbert. The decision to cancel the show was simply because of contract negotiations. Read his full comments below.
The challenge in late night is that the advertising marketplace is in significant secular decline. We are huge fans of Colbert, we love the show, unfortunately the economics made it a challenge for us to keep going.
I know [Skydance] is going to invest, but they’re going to invest cautiously and wisely, so for me, managing this business is really important for me to double down the area’s road in broadcast intriguing, which really is primetime and sports.
At the end of the day, it just wasn’t sustainable to continue.
We were at a period from a production standpoint where every year seasonally, this is [when] we negotiate new deals for writers and producers. In addition, this is going to be the third season of Colbert’s three-year deal. So, in order to do those deals, we were going to have to change the terms from what we traditionally are, September to August to September to May. It was it incumbent upon me and us to make it clear to Stephen and his reps that this is where we were.
What CBS' Comments Mean for The Late Show’s Rumors
The executives of CBS and Paramount continue to emphasize thatThe Late Show With Stephen Colbertwas canceledbecause of financial reasons, and not because of Colbert’s criticism of Trump’s deal with Paramount.The major networks are staying strongin their decision. They are also remaining professional.
Regardless of whetherCBS canceledThe Late Show With Stephen Colbertfor financial reasonsor not,it makes their decision more plausible when they have a unified front. The timing is suspicious given Colbert’s comments shortly before the news broke out. However, if it truly was just time to renegotiate everyone’s contracts, then the cancellation came at an expected time.
Our Take On CBS' Comments
From a professional standpoint,it makes sense that CBS would continue to cite financial decisionseven after all the backlash of the cancellation. Going back on their original explanation would make the situation even messier. However, it does not clear CBS or Paramount of suspicion. The anger from Stephen Colbert and otherpopular late-night hostsis justified.
Colbert’s support from his fellow professionals also makes CBS' decision upsetting. If the cancellation was really because of contracts ending and financial decisions, the backlash would not have been so abrupt and consistent. Everyone gets upset when their favorite show gets canceled, butbacklash like this signals something deeper.
The timing ofThe Late Show with Stephen Colbert’s cancellation, in combination with the show’s popularity, makes Cheeks' comments seem like a form of public relations management. They do not seem completely honest. It makes sense for the company to shield itself, but it does not mean the comments have to be taken at face value.
