Overview

• Shell supported CBS’s May 2026 cancellation of The Late Show with Stephen Colbert, saying late-night economics are broken.
• He noted that about 80 percent of late-night viewership now occurs on YouTube where ad revenue amounts to 45 cents on the dollar.
• Despite earlier discussions about dropping the slot, Shell declared CBS’s 10 p.m. hour “healthier” than competitors and off limits for now.
• George Cheeks and other executives argue that 10 p.m. dramas like Elsbeth and Boston Blue deliver strong linear ratings and feed Paramount+.
• The Skydance–Paramount merger has intensified scrutiny over editorial independence, but coverage now centers on network strategy and financial sustainability.