Heilemann: To Simply End ‘The Late Show with Stephen Colbert’ with No Intention of Replacing It Raises So Many Red Flags

RUSH TRANSCRIPT:
>> Yeah. Classy guy, as always. John. Listen, here’s here’s a one way to think about this, which is that there’s. I think there’s a consensus in the television business that this. Generation of late night hosts.
>> Stephen, Jimmy. Jimmy. And Seth.
>> Meyers are we’re going to be the. Last that you would not that the economics for the reasons you were talking about.
>> Because so much of the revenue and the.
>> Viewership is now.
>> Moving into.
>> Social platforms, not to youtube, that you wouldn’t you wouldn’t.
>> Find a successor.
>> To any of those guys. This would be the last generation in those traditional seats.
>> Now, having said that. That speaks to.
>> The challenging environment.
>> And CBS says, well, you know.
>> There’s the financial challenges and you pointed out the.
>> Viewership numbers.
>> Are down.
>> I don’t know of.
>> A credible.
>> Estimate right now that doesn’t say that. Stephen Colbert, the top.
>> Rated show.
>> Among those late night viewers and with all of the various revenues.
>> That they put together.
>> Including the traditional ones and the.
>> Youtube ones.
>> And the digital. Ones and.
>> All the other kind of rights, I don’t.
>> See any credible estimates that show.
>> That that that don’t. have colbert right now, the. Show making.
>> Probably somewhere between.
>> 20 and $30 million a year in net profit in the business that we live in right now, whether it’s in.
>> News.
>> Or it’s in entertainment, linear programing, linear.
>> Companies, the big broadcast.
>> Networks, cable networks, they are trying to.
>> Squeeze the last.
>> Juice out of every orange.
>> Out of every lemon.
>> And I, I think.
>> It’s unprecedented for a network to look at a show that’s. still making.
>> Eight figures in net.
>> Profits.
>> And rather than having a conversation if it.
>> Felt it was financially pressed.
>> Going.
>> To Stephen Colbert and asked him to take a salary cut to try to get the costs of the show down a little bit, but instead to simply end the show with no intention of replacing it. It just raises so many red flags about what’s going on here, especially given, as you point out, the recent track record of the capitulation, essentially paying what a lot of people think is a bribe, a shakedown. Over the 60 minutes lawsuit. I think people are.
>> Right to.
>> Think that there may. Be something. Going on here. Beyond purely financial calculations, and that politics.
>> Are.
>> Part of it. And I think that that will be I’m eager to see what the reporting is as people really dig into this over the next couple of weeks.
>> But I think there’s.
>> No reason that you don’t have.
>> To be a conspiracy.
>> Theory crazy person to think that.
>> There might be.
>> Other agendas at play here than than just.
>> Purely financial.