Dems have turned this psychological phenomenon into an ‘art form,' says author
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New York Post
19 minutes ago
- New York Post
Bottom line on demise of Stephen Colbert and his late show: ‘losing money left and right'
Stephen Colbert and his money-losing CBS late-night show would have been canceled even sooner if the merger between parent company Paramount and Skydance wasn't held up, On The Money has learned. People at the independent studio and their partners Redbird Capital in the $8 billion takeover of the media giant have been busy crunching P&L (profit and loss) of CBS and are seeing a lot more L than P – particularly when it comes to 'The Late Show with Stephen Colbert,' two people with knowledge of the matter said. They believe the show was on the trajectory of losing more than the $40 million to $50 million it lost last year, and it would have been a prime target for cancellation once the Skydance deal is done, according to sources with knowledge of the matter. 4 Stephen Colbert's show was on the trajectory of losing more than the $40 million to $50 million it lost last year, and it would have been a prime target for cancellation once the Skydance deal is done, sources say. Jack Forbes / NY Post Design 'This thing is losing money left and right,' said one person close to Skydance. 'I hear it's on the way to lose more than $50 million and they would have killed it sooner if they were in charge. This guy pisses off more than half the country.' Yes, Colbert is a ratings leader in traditional late-night talk, but its ratings have been steadily eroding as people reject its left-wing bias and the younger demo of viewers get their entertainment through less traditional outlets. Advertising is difficult to get, made even more treacherous by Colbert's forays into politics. That combined with Colbert's fat salary (estimated at between $15 million and $20 million a year), huge overhead and staff, and you can see the losses piling up ad infinitum. A Paramount spokesman declined comment other than to point out that Colbert isn't now losing more than $50 million annually. Colbert will stick around until the plug is pulled next May and isn't going away quietly. On Monday's show, Colbert resorted to using profanity on public airwaves to attack Trump after the president gloated on social media about its impending demise and said Colbert has no talent. 4 A Paramount spokesman declined comment other than to point out that Colbert isn't now losing more than $50 million annually. Bloomberg via Getty Images 'Would an untalented man be able to compose the following satirical witticism: 'Go f— yourself,' the late-night lame duck quipped. The audience roared, but at Skydance headquarters there wasn't a lot of laughing, I am told. Skydance declined to comment, but people there said the decision to end Colbert was purely up to Paramount, which even in its lame-duck status, has a fiduciary responsibility to serve current shareholders, including by ending money-losing programming with little chance to show profits. Meanwhile, the merger, after an exhaustive review by the Federal Communications Commission — on Thursday received approval al by President Trump's regulators. The Post previously reported that Skydance chief David Ellison — the son of Trump pal and mega billionaire Larry Ellison of Oracle fame — told friends in and around Hollywood that the long-stalled deal is nearing the finish line and would will be approved by President Trump's regulators by mid-August. 4 Skydance chief David Ellison — the son of Trump pal and mega billionaire Larry Ellison of Oracle fame — is telling friends in and around Hollywood that the long-stalled deal is nearing the finish line. AFP via Getty Images Paving the way for the green light: Current management of Paramount conceded to Trump's demands and paid $16 million to settle a lawsuit brought by The Donald over a controversial '60 Minutes' interview with Democratic Presidential nominee, Kamala Harris. As On The Money has reported Paramount's new owners, meaning Skydance, had promised to throw in tens of millions more in pro MAGA public service ads. On Tuesday, Trump said he expects $20 million in such ads. Telecom industry insiders said the Colbert axing on top of the money shelled out to end the lawsuit could help push the deal through the FCC review process with just a few conditions. 4 Current management of Paramount conceded to Trump's demands and paid $16 million to settle a lawsuit brought by The Donald over a controversial '60 Minutes' interview with Democratic Presidential nominee, Kamala Harris. 60 Minutes 'The Ellisons are conveying the message that they don't want a lot of conditions on CBS and Trump may now be sympathetic to that,' says one such insider who deals with FCC. The younger Ellison and his lawyers recently met with FCC chair Brendan Carr to discuss how he would run Paramount and CBS in a non-biased way and adhere to employment law, and have vowed to produce unbiased news, hire an ombudsman to monitor its programming, and scale back controversial Diversity Equity and Inclusions policies in hiring that critics say amounts to discrimination. All of which comes as Carr's review includes whether CBS shows consistent left-wing bias in its news programming, thus violating the agency's 'public interest' guidelines that govern news on public airwaves, as opposed to cable. He is also examining whether CBS has violated the law by adhering to strict DEI guidelines. The review was prompted by a conservative legal group, The Center For American Rights, which recently wrote Carr about its additional concerns over how CBS and other larger broadcasters allegedly 'impose burdensome financial demands' on local affiliates that rely on its content, thus violating the FCC public interest edicts that protect local news for millions of Americans. 'The Commission should take that reality to heart and put in place conditions that protect localism as the cornerstone of broadcasting,' according to the Center's letter obtained by On The Money. An FCC spokesman had no comment
Fox News
an hour ago
- Fox News
Fox News Digital's News Quiz: July 25, 2025
Hunter Biden called out a Hollywood A-lister, and Coca-Cola announced it will release a product in the fall. Can you get a perfect score in this week's News Quiz? Test your news knowledge with this week's Fox News Digital News Quiz. Looking for more fun? Do you remember the Virginia Democrat's attempt at a viral moment in last week's News Quiz? Test yourself on fruit frontiers and star-spangled symbols in this week's American Culture Quiz. If you're looking to play even more, you can find all of our quizzes by clicking here. Check back next week for the latest News Quiz from Fox News Digital. Thanks for playing!
Bloomberg
an hour ago
- Bloomberg
Dude! They Killed Colbert!
After 10 years, CBS announced it was cancelling Stephen Colbert's Late Show. This coincidentally came on the heels of his humorous excoriation of parent company Paramount's $16 million deal with President Donald Trump over what the Republican claimed was bias in the editing of an interview with then-Vice President Kamala Harris. CBS journalists denied the allegation and legal experts said Trump's claim was dead on arrival in court.
