TOI correspondent from Washington: American late-night television, that unique, risque institution where presidents are mocked, celebrities flattered and the audience applauds on cue, is preparing for a funeral. After 33 years, CBS is pulling the plug on The Late Show with Stephen Colbert, with its eponymous host taking his final bow this week – ending not merely a show, but perhaps an era when comedians doubled as the political opposition.
CBS insists the decision is “purely financial,” which, as one wag remarked, may be true in the same way the Titanic had a “water management issue.” According to the network, late-night television is bleeding money in the streaming age, with younger audiences migrating to social media memes, clips, and podcasts hosted by hosts broadcasting from basements and bunkers . Advertising revenues for late-night TV have plunged dramatically in recent years even as production costs have soared.
