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CBS cancels ‘The Late Show’ despite NY financial incentives

New York's financial support did not retain 'The Late Show', raising concerns among lawmakers.

July 24, 2025 at 03:01 PM

Too late for New York to save ‘The Late Show’

The state's financial incentives did not sway CBS' decision to cancel the show.

New York's efforts to keep ‘The Late Show’ fail to secure CBS respect

New York offered significant financial incentives to keep "The Late Show" in the state, yet CBS has announced it will cancel the program. In 2014, New York provided a mix of tax breaks and grants totaling up to $15 million to retain the show when Stephen Colbert took over from David Letterman. However, with CBS now pulling the plug, the state has little recourse, as the funds have already been allocated. Assemblymember Tony Simone, who represents the district housing the Ed Sullivan Theater, expressed frustration, questioning the merit of using taxpayer money for a show that is closing. While CBS reports its decision as a financial one, the timing of the cancellation has sparked speculation about the impact of Colbert's critical stance on Donald Trump and potential repercussions related to Paramount's settlement with Trump.

Key Takeaways

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CBS cancels 'The Late Show' despite previous financial incentives from New York.

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New York provided $15 million in support to retain the show when Colbert began hosting.

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Many lawmakers express frustration over tax dollars spent with little return.

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The financial decision by CBS raises concerns about the trust placed in corporate partners.

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State subsidies may not guarantee the permanence of media productions in New York.

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Critics suggest that Colbert's political commentary may have influenced the cancellation.

"Why should we give them tax money if they’re going to close up shop here?"

Tony Simone questions the use of taxpayer funds after the show's cancellation.

"It's a chilling effect, and I think we should take our tax dollars back if they're going to cancel the show."

Simone highlights the need for accountability from CBS given the financial incentives.

The fate of 'The Late Show' raises important questions about the effectiveness of state subsidies in securing media properties. With CBS's cancellation, one must consider whether a financial investment can truly anchor prominent shows or if such commitments are ultimately temporary and reliant on broader market dynamics. The criticisms from local lawmakers highlight a disconnect between taxpayer sentiment and corporate decision-making, underscoring the complexities of state support for entertainment ventures. As media consolidation continues to shape the landscape, it will be essential to scrutinize how financial incentives align with the long-term interests of local economies and culture.

Highlights

Taxpayer money should not support a show that exits stage left.
Corporate decisions can disrupt local jobs and culture.
Are financial incentives for media productions worth the risk?
The cancellation of 'The Late Show' reflects larger industry trends.

Concerns over taxpayer investment in CBS shows

The cancellation of ‘The Late Show’ raises questions about the effectiveness of taxpayer money spent on media productions, especially when companies like CBS decide to pull out later.

The cancellation signals a need for New York to reevaluate its financial support for media productions.

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new york media tv shows politics entertainment media politics economy

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