Summary
CBS said it will convert the 11:35 p.m. ET time period that follows local news into a time buy, selling that block to media entrepreneur Byron Allen after "The Late Show with Stephen Colbert" ends its run on May 21. The network will slot Allen’s comedy talk program, Comics Unleashed, in that hour as two consecutive half-hour episodes beginning May 22, under a time buy agreement that runs for the 2026-2027 TV season. Allen will also continue to lease the 12:37 a.m. hour for the comedy game show Funny You Should Ask.
Details of the arrangement
CBS, described in company materials as Paramount Skydance-owned CBS, announced that Comics Unleashed will take over the 11:35 p.m. time slot under the time buy model. The series will be presented as a nightly two-hour block comprised of two back-to-back 30-minute episodes starting on May 22, the network said. The deal extends to the 2026-2027 television season and is structured so that the network sells the airtime to Allen rather than filling the hour with internally produced programming.
What a time buy means
A time buy is a standard industry practice for late-night and early-morning hours when a network sells a specified block of airtime to an outside producer or company. Under such an agreement, the external party is responsible for producing and providing the program that airs during the purchased slot while the network treats the hour as sold inventory from a revenue perspective.
Programming and continuity
Allen’s Comics Unleashed will occupy the station’s post-local-news hour starting May 22. In addition to that block, Allen will maintain the lease on the 12:37 a.m. hour with Funny You Should Ask, another strip produced by his company. CBS indicated the time buy will move late-night from a financially challenged position to a profitable one.
Comments
Byron Allen commented on the arrangement, saying, "I truly appreciate CBS’ confidence in me by picking up our two-hour comedy block of Comics Unleashed and Funny You Should Ask, because the world can never have enough laughter."
Context on The Late Show
Stephen Colbert’s tenure on The Late Show ends on May 21 after a 10-year run. The Late Show franchise originally debuted in 1993 with David Letterman as host after he was passed over for NBC’s The Tonight Show. Colbert, who was previously a regular on The Daily Show and the host of The Colbert Report on Comedy Central, took over The Late Show in 2015.
Advertising-style content included in original announcement
The announcement also included promotional material relating to investment research products, noting that stronger data and AI-powered insights can help investors identify opportunities. It referenced InvestingPro+ as a product that combines institutional-grade data with AI-powered insights and included the line, "Ask WarrenAI, then decide." This material appeared as part of the information provided alongside the programming news.
This article presents the facts as provided by the network announcement and related statements; it does not add new dates, figures, or claims beyond those included in the original information.