CBS Replaces Colbert With Comedy Reruns, Signals Shift Away From Late-Night Talk Shows

CBS will end "The Late Show With Stephen Colbert" next month and replace it with reruns of Byron Allen's "Comics Unleashed" starting at 11:35 p.m. ET, a one-year time-buy deal that makes the network profitable in the late-night slot for the first time in years. Paramount TV Media chairman George Cheeks said the arrangement allows CBS to achieve "immediate profitability" while the network explores alternative programming formats for the time period.

Under the agreement through the 2026-2027 TV season, Allen will pay CBS to air back-to-back episodes of "Comics Unleashed"—typically pairing a new episode with a library half-hour—in the 11:35 p.m. slot. Allen will also retain the 12:37 a.m. hour with "Funny You Should Ask," another comedy game show from his company. Cheeks said CBS considered other options, including returning time to local affiliates or airing procedural drama reruns, before selecting the Allen deal.

Cheeks told reporters Wednesday that CBS is still developing alternative concepts for late night, but any future programming must operate under a different financial model than traditional talk shows. "The reach is still there, but the reach is there primarily on YouTube, which is under monetized," Cheeks said. "If we're going to go back into that space, we have to go back into that space with a different financial model."

CBS Entertainment president Amy Reisenbach said the network is in early-stage conversations about future programming in "all areas" but emphasized that any format must be financially viable and would not be a talk show. "We have nothing too soon to say specific about it," Reisenbach said. The shift represents a fundamental change in how CBS approaches the 11:35 p.m. slot, which has been a cornerstone of network late-night programming for decades.

Context

"The Late Show With Stephen Colbert" has aired in the 11:35 p.m. slot since 2015, following the retirement of David Letterman. Late-night talk shows have historically been expensive productions requiring A-list hosts, writers, and production crews, often operating at a loss or minimal profit for networks. By moving to a time-buy model where an external producer pays for airtime, CBS shifts financial risk to Allen while guaranteeing revenue.

Allen has been positioning himself for the late-night slot since at least October 2025, when he publicly stated his interest during New York's Advertising Week. He has previously leased the 12:37 a.m. hour twice: from late 2023 to early 2024 after "The Late Late Show With James Corden" ended, and again starting September 2025 after "After Midnight" concluded its run. The transition underscores a broader industry trend away from expensive talk show formats toward cheaper syndicated or licensed content.

What's Next

CBS's willingness to cede the 11:35 p.m. slot to a paid partnership signals that the network may not return to producing original late-night talk shows in that time period. Cheeks indicated that any future late-night programming would need to operate on different economics—likely lower-cost formats that generate revenue through alternative means rather than traditional advertising models tied to viewership. The network's ongoing development conversations suggest it may test experimental formats or non-talk-show concepts before committing to any permanent replacement for the Colbert era.