Byron Allen Set to Revitalize Late Night Television with Strategic Moves

As CBS concludes its run with “The Late Show,” Byron Allen is preparing to take over a prestigious evening time slot. Starting Friday, Allen’s longtime syndicated comedy series, “Comics Unleashed,” airs at 11:35 p.m. ET. Known for his start as a stand-up comedian, Allen sees this move as a strong business opportunity to grow his media holdings.

Recently, Allen acquired a controlling stake in Buzzfeed, the well-known digital media company, enhancing his media portfolio. His proposal to CBS came earlier. When CBS, owned by Paramount, considered canceling Stephen Colbert’s late-night show, Allen approached the network with a straightforward question about generating revenue. Allen shares a longstanding friendship with Colbert and suggested CBS avoid airing another show post-cancellation. Instead, Allen offered to purchase the time slot, potentially saving the network over $110 million.

Under this deal, Allen leases the time slot and handles the advertising sales. While he didn’t disclose the exact spending, he emphasized his investment significantly benefits CBS financially.

Allen’s desire to be part of late-night television traces back to his childhood. His mother, an NBC employee, introduced him to the world of late-night shows by bringing him to see legends like Johnny Carson. Watching Carson inspired Allen, and he soon performed stand-up comedy on “The Tonight Show Starring Johnny Carson” in 1979.

In 1993, Allen founded Allen Media Group (Entertainment Studios), expanding into various television channels and acquiring the Weather Channel’s parent company in 2018. Allen sees promise in Buzzfeed’s potential, a sentiment he voiced by affirming he wouldn’t change the foundation built by co-founder Jonah Peretti. His vision includes user-generated content accessible on his ad-supported streaming platform, Local Now, with no paywall involved.

Allen’s ambitions extend further as he aims for a controlling stake in the premium cable network Starz, where he already holds a significant share. He expressed his desire for Starz to remain publicly traded, proposing increased investment to become the controlling shareholder.

However, past pursuits such as acquiring TV station operator Tegna and the NFL’s Washington Commanders highlight the challenges faced. In 2024, he intended to pursue Paramount, reflecting his ongoing efforts. Despite these complexities, Allen remains undeterred by hurdles like the ‘poison pill’ strategy Starz adopted to fend off hostile takeovers.

At 65, Allen continues to chase his dreams, attributing his drive and motivation to his mother’s influence. His focus on making her proud underscores his continued efforts in the media landscape.