Shari Redstone, ex-chair of Paramount Global who exited her family’s ownership of the media conglom this summer in a sale to Skydance Media, defended CBS’s cancellation of “The Late Show With Stephen Colbert” — saying that late-night TV is a money-losing proposition.
Redstone, speaking at the Axios Media and Trends Live conference Thursday in New York, said the cancellation of Colbert’s show was not connected with the Trump administration’s approval of the Paramount-Skydance deal.
“I can tell you that we had been looking at late night. It was financially not viable. It had been that way for a long time.
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