Byron Allen on how CBS handed him Stephen Colbert’s ‘Late Show’ time slot

Culture & TrendsByron Allen on how CBS handed him Stephen Colbert’s ‘Late Show’ time slotThe comedian-turned-media mogul spoke to NBC News this week about how “Comics Unleashed,” as well as his majority stake in Buzzfeed, will help him grow his media empire.Byron Allen in Los Angeles on April 18. Etienne Laurent / AFP via Getty Images fileShareAdd NBC News to GoogleMay 21, 2026, 5:00 AM EDTBy Chloe MelasAs CBS sunsets “The Late Show,” media executive Byron Allen is gearing up to take over one of television’s most coveted evening time slots.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.Starting Friday, Allen’s long-running syndicated comedy series, “Comics Unleashed,” will air at 11:35 p.m. ET. Allen, who rose to fame as a stand-up comic, described the move as a “business opportunity” that he believes could help further expand his media empire. Last week, he bought a controlling stake in Buzzfeed, the digital media company co-founded by Jonah Peretti that helped define virality online. His CBS pitch formed much earlier, however. Allen said that when news broke in July that the Paramount-owned CBS would be booting Stephen Colbert and the late-night staple off the air, he approached the network with a simple question.“I said, ‘OK, do you like money?’” he said in an interview this week. “They said, ‘Yes!”Allen is friends with Colbert — the two go way back. He urged CBS to “not put on another show” if it went through with canceling the cancellation. He said he told the network, “I’ll buy the time period, and you can save over $110 million.”Stephen Colbert on "The Late Show" on June 25.Scott Kowalchyk / CBS via Getty ImagesUnder the arrangement, Allen leases the hour and sells the advertising inventory himself. Although he wouldn’t reveal exactly how much he’s spending on the deal, he did say he’s “putting a lot of money in their cash register.” “I am a gift from the money gods and the comedy gods,” he sa...