CBS defends Colbert cancellation by revealing revenue loss
The network announced it was pulling the plug on the iconic program last year because of "financial reasons," and said the decision to end the show after 10 seasons was not a reflection on the years-long host.
CBS unexpectedly defended its decision to pull "The Late Show With Stephen Colbert" off air, revealing in a statement Thursday that the show was losing approximately $40 million a year.
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