The Late Show With Stephen Colbert was cancelled by CBS after 32 years primarily due to financial pressures and a decline in the advertising market for late-night television. CBS chief George Cheeks expressed admiration for Colbert but indicated economic challenges made continuation difficult. After Taylor Tomlinson declined to return to a related show, it became unsustainable for CBS to maintain programming in that time slot. Cheeks emphasized cautious and wise investments in the future, particularly in primetime and sports, amid shifting industry dynamics.
The challenge in late night is that the advertising marketplace is in significant secular decline, according to CBS chief George Cheeks. He explained that financial headwinds made it challenging to keep The Late Show With Stephen Colbert going, despite their admiration for the show. As soon as Taylor Tomlinson declined to return as host, Cheeks understood that the network could not sustain programming in that timeslot.
Cheeks noted, "I know [Skydance] is going to invest, but they're going to invest cautiously and wisely," indicating a strategic focus on primetime and sports moving forward. This comes in response to the shifts in the media landscape and financial pressures impacting traditional late-night formats.
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