Per Business Insider
CBS explains the reason behind 'The Late Night Show With James Corden' shutting down, citing a $20 million loss
5/5/2023
CBS has addressed the reason as to why they had decided to shut down "The Late Night Show With James Corden," saying they lost $20 million in production. It was noted that since 2015, the show's yearly production cost from $60 million to $65 million.
It was noted that despite spending from $60 million to $65 million, the company had only made less than $45 million from the show. The news came from sources who told Los Angeles Magazine's Brian Stelter about the matter.
An anonymous executive gave a statement to Stelter regarding the situation. The source highlighted sustainability as the reason why they had decided to drop the show.
"It was simply not sustainable... CBS could not afford him anymore."
James Corden signed onto the show in 2015 with a salary of $4 million to $5 million, per Variety. It was reported that he received pay increases, although they remained undisclosed.
In 2019, David Nevins, CBS chief creative office, commented on James Corden, sharing his performance at the show. He also shared during that time that CBS was excited to extend its relationship with the host.
Nevins: “James Corden has burned his way to the top of American television with a daring, energetic and inventive broadcast that stands out in the late night space,”
In November, CBS News said it would be halting its activity on Twitter over Elon Musk's takeover of the platform. It was noted that they were being cautious and that they decided to pause its activity on the social media site while it continues to monitor the platform.
In other news, Disney could downsize its entertainment division by eliminating 15% of its workforce. The company said that it wanted to eliminate 7,000 positions in order for it to save $5.5 billion in annual costs.
See flow at unusualwhales.com/flow.
Other News:
- CBS News has said it is halting its activity on Twitter over Elon Musk’s takeover of the platform
- Disney could downsize its entertainment division by eliminating 15% of its workforce
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