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Colbert replacement hemorrhages audience as devastating new CBS viewer figures released

CBS Didn’t Solve Late Night. It Moved the Losses Around.CBS canceled Stephen Colbert’s The Late Show and handed the slot to Byron Allen’s Comics Unleashed. The immediate ratings picture is ugly for the replacement: viewers fled, Kimmel surged, Fallon rose, and CBS’s new 11:35 p.m. occupant cratered. That is the context. The real story is what the numbers and the deal structure reveal about who holds power, who absorbs damage, and who gets to pretend the mess is merely “market reaction.”CBS Controls the SlotCBS made the decision that matters: it pulled Colbert, then sold the time slot into a…

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