As CBS transitions “The Late Show” into retirement, media executive Byron Allen steps up to occupy a key evening slot. Starting Friday, his syndicated comedy series, “Comics Unleashed,” will air at 11:35 p.m. ET. Allen, renowned for his stand-up comedy, sees this as a strategic move to grow his media empire. Recently, he acquired a controlling interest in Buzzfeed, co-founded by Jonah Peretti and known for online virality. However, Allen’s CBS plans were in motion well before this.
Allen reacted promptly when news surfaced in July that CBS, owned by Paramount, would discontinue Stephen Colbert’s show. He approached the network bluntly: “Do you like money?” he recounted. They affirmed, leading him to propose, “I’ll buy the time period, saving you over $110 million.” His friendship with Colbert—cultivated over years—fueled his advocacy for caution before canceling the show.
Under the deal, Allen leases the hour, handling advertisement sales independently. While he did not disclose specific financial details, he mentioned considerable investment on his part. “I am a gift from the money and comedy gods,” he expressed.
Allen’s aspiration for late-night television dates back to his childhood. Raised by an NBC employee mother, he spent time on the Burbank lot, witnessing Johnny Carson’s legendary shows. “Watching Johnny Carson left a lasting impression, inspiring my career aspirations,” he stated.
Allen’s serendipitous break in 1979 came with a stand-up performance on “The Tonight Show Starring Johnny Carson.” “Within those five minutes, I knew I could transform my life and my mother’s forever,” he reflected.
Since then, Allen has expanded into media, establishing Allen Media Group (Entertainment Studios) in 1993, which encompasses channels like Pets.TV and Cars.TV. His 2018 acquisition of the Weather Channel illustrates his expansive vision.
Regarding Buzzfeed, Allen shares ambitious plans, emphasizing its substantial following. “Jonah Peretti’s achievements over 20 years form our foundation for further development,” he commented. Despite Buzzfeed’s valuation exceeding $1 billion, financial struggles persist, as highlighted by Axios. Allen aims to feature user-generated content on Local Now, his ad-supported streaming platform. “The appeal of free streaming is undeniable,” he explained.
Allen’s ambitions extend further. He intends to gain control over the premium cable network Starz, where he is the second-largest stockholder. “Owning Starz is my goal, and I plan to achieve control,” Allen stated. “My vision is to maintain its public trading status and increase my investment, becoming the controlling shareholder.”
Despite past obstacles with ventures including Tegna and Paramount, Allen remains undeterred. In 2024, an attempt with the NFL’s Washington Commanders proved unsuccessful. Meanwhile, Starz detached from Lionsgate to function independently. Recently, Starz adopted a “poison pill” measure as defense against aggressive investors, noted Deadline. Though challenges persist, Allen remains optimistic at 65, driven by his mother’s pride. “Making my mama proud is all that matters, regardless of wealth,” he said. “I’m still her little boy clinging to her leg.”
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