Byron Allen Takes Over CBS Late-Night Slot and Expands Media Empire

Media executive Byron Allen is set to take charge of one of television’s prime evening slots. His longtime syndicated series, “Comics Unleashed,” will begin airing at 11:35 p.m. ET on CBS this Friday. Allen, originally known as a stand-up comedian, views this move as a strategic business opportunity to expand his media ventures.

Recently, Allen acquired a controlling interest in Buzzfeed, a digital media company co-founded by Jonah Peretti, which has been a key player in viral content. The decision to approach CBS came when news of Paramount-owned CBS’s decision to remove Stephen Colbert from the network broke in July. Allen, a long-time friend of Colbert, proposed an alternative.

“I asked CBS if they were interested in making money,” Allen shared during a recent interview. The network responded positively, leading him to suggest, “I’ll buy the time slot, saving you over $110 million.”

Under this deal, Allen leases the hour from CBS and manages the advertising. Although he has not disclosed the financial specifics of the arrangement, he affirms his substantial investment, stating, “I am bringing a significant amount of money to their cash register.”

Allen’s fascination with late-night TV began early in life when he visited NBC studios in Burbank as a child. His mother worked there, and this experience sparked his admiration for Johnny Carson. Watching Carson perform left a lasting impression on him, leading to his own stand-up debut on “The Tonight Show” in 1979.

With a foot in the media business, Allen founded Allen Media Group in 1993, owning channels like Pets.TV and Cars.TV. In 2018, his company purchased the parent firm of the Weather Channel. Concerning Buzzfeed, Allen sees strong potential, noting, “We are building on the foundations set by Jonah Peretti over two decades.” His plan includes incorporating user-generated content accessible via his ad-supported streaming platform, Local Now.

“Free,” Allen says, “is everyone’s favorite word. Combining ‘free’ and ‘streaming’ creates something magical.”

Allen’s ambitions extend further with his interest in controlling the premium cable network Starz, where he is the second-largest shareholder. Despite past unsuccessful deals, including with Tegna and the NFL’s Washington Commanders, he remains undeterred. Starz operates separately from Lionsgate since last year.

In March, Starz implemented a “poison pill” strategy to protect against hostile takeovers. This tactic reflects defense against unsolicited acquisition attempts. Despite these hurdles, Allen remains determined to pursue his aspirations.

At age 65, Allen continues to drive his business ventures forward, with his mother serving as a central inspiration. “Making my mom proud,” he expressed, “is my ultimate goal, regardless of wealth.”