CBS Says Late Night Will Now Turn a $15 Million Profit After Byron Allen’s Time Buy

CBS Says Late-Night Deal With Byron Allen Will Generate $15 Million in Profit

CBS's "time buy" deal with Byron Allen flips the Late Show slot from a $40M annual loss to $15M profit — a $55M swing — after cancelling Colbert's program. Allen covers 100% of production costs and keeps ad revenue; CBS earns a fixed fee regardless of ratings — a risk-transfer model gaining relevance as late-night TV ad spend fell 60% since 2017.