Byron Allen Prepares for Late-Night TV Slot with ‘Comics Unleashed’
Byron Allen Set to Occupy CBS Late-Night Slot
Media executive Byron Allen will soon take over CBS’s late-night slot with his comedy series, “Comics Unleashed.” Starting Friday, it will air at 11:35 p.m. ET. Allen, a former stand-up comedian, sees this move as a strategic business expansion. Recently, he acquired a controlling interest in BuzzFeed, co-founded by Jonah Peretti. He approached CBS with a direct proposal when news surfaced in July about CBS phasing out Stephen Colbert’s “The Late Show.”
Financial Implications of Allen’s CBS Deal
Allen has a friendship with Colbert, prompting his suggestion for CBS to avoid launching another show after canceling that program. He offered to purchase the time slot, aiming to save CBS over $110 million. In the deal, Allen will lease the hour and independently sell advertising space. He refrained from disclosing exact financial commitments but noted he’s contributed significantly.
“I am a gift from the money gods and the comedy gods,” Allen expressed, highlighting his financial and comedic value.
Allen’s Journey in Late-Night Television
Allen’s ties to late-night television date back to his youth. His mother, an NBC employee, introduced him to this world when she couldn’t afford childcare, bringing him to work where he watched Johnny Carson. Allen performed stand-up on “The Tonight Show” in 1979, which he believed changed his and his mother’s lives.
Allen’s Media Ventures
In 1993, Allen ventured into the media industry by founding Allen Media Group. This company owns multiple television channels, including Pets.TV and Cars.TV, and acquired the Weather Channel’s parent company in 2018. Allen remains optimistic about BuzzFeed’s future, planning to maintain its foundational strengths while evolving user-generated content. His vision involves ad-supported streaming without paywalls, reflecting his belief in the power of “free” and “streaming.”
Allen’s Vision and Ambitions
Allen, the second-largest shareholder in the premium cable network Starz, aims to gain control over it. He expressed intentions to invest more and become the dominant shareholder. Though previous deals didn’t materialize, his ambitions include Starz’s expansion and potential acquisition.
Challenges and Moving Forward
Despite hurdles, including Starz’s recent adoption of a “poison pill” strategy against hostile takeovers, Allen remains undeterred. His mother remains his life’s motivation.
“It makes me feel great, because at the end of the day, all I want to do is make my mama proud, no matter how rich I get,” Allen stated, acknowledging his mother’s continual influence.