CBS is making a dramatic shift in its late‑night strategy, handing over the entire post‑local‑news block to media mogul Byron Allen once The Late Show with Stephen Colbert signs off in May. The network has finalized a time‑buy agreement that allows Allen to lease both the 11:35 p.m. and 12:37 a.m. hours through the 2026–2027 season, marking the end of CBS‑produced late‑night programming for the first time in more than three decades.
Colbert’s final episode airs May 21st, closing a franchise that began in 1993 with David Letterman’s arrival at CBS. The very next night, Allen steps in with a two‑hour comedy block built around his long‑running series Comics Unleashed and the comedy game show Funny You Should Ask. Back‑to‑back episodes of Comics Unleashed will occupy the 11:35 p.m. slot, followed by Funny You Should Ask at 12:37 a.m.
CBS executives have framed the move as a financial decision. Producing a traditional late‑night talk show has become increasingly expensive, and leasing the time to Allen allows the network to profit regardless of ratings, since Allen Media Group pays for the airtime and sells its own advertising. Even though CBS expects ratings to dip without The Late Show, the time‑buy model offsets those losses.
Allen has been steadily building toward this moment. He previously leased the 12:37 a.m. slot during gaps in CBS’s schedule—first after The Late Late Show with James Corden ended in 2023, and again after After Midnight wrapped in 2025. His company has produced Comics Unleashed for two decades, recently reviving it with new episodes for CBS. Allen has openly described securing the 11:35 p.m. hour as a goal he has pursued for 50 years.
Both Comics Unleashed and Funny You Should Ask are designed as evergreen, low‑cost comedy formats featuring rotating comedians and minimal topical content. CBS considers the shows’ national network programming, meaning affiliates are expected to carry them despite the shift away from in‑house production.
The agreement currently covers just one season. CBS has left the door open to returning to original late‑night programming in the future—if a financially viable format emerges. For now, the network is betting on Allen’s proven ability to deliver consistent, advertiser‑friendly comedy at a fraction of the cost of a traditional talk show.
