James Corden's Show Was 'Not Sustainable,' Losing CBS Roughly $20 Million a Year Despite His Star Power
May 1 2023, Published 6:15 p.m. ET
James Corden's late-night series had grown to become a bona fide hit amongst viewers, but CBS couldn't endure the financial losses they took on, RadarOnline.com can report.
The British television personality carved out a niche for himself after eight years on the small screen — however, the costs were stacking up. "It was simply not sustainable," one executive told former CNN anchor Brian Stelter. "CBS could not afford him anymore."
Even if he didn't say goodbye to his coveted TV gig as host of The Late Late Show, two sources with knowledge of the situation said that Corden would have likely been forced to accept a multimillion-dollar pay cut or face massive staff layoffs.
His show was alleged to be "netting less than $45 million" while production costs added up to $60 million to $65 million, sources told Los Angeles Magazine.
RadarOnline.com has reached out to CBS for comment.
Corden was previously offered several contract extensions in a desperate effort for the network to keep him onboard, Deadline reported, which he echoed in a statement.
"My bosses here at CBS have been incredibly supportive and extraordinarily patient with me while I made this decision," Corden said at the time.
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The former Gavin & Stacey star and co-writer went out with a bang on his final April 28 broadcast, featuring a cameo by Tom Cruise, guests Will Ferrell and Harry Styles, and a last Carpool Karaoke segment with singer Adele.
Corden said it was a bittersweet occasion, revealing that he mulled over how to give the proper farewell he felt viewers deserved, calling his hosting experience a "wonderful adventure" that he would always fondly remember.
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"I've struggled at times to find the words to sum up what this past eight years [have] meant to me. It is almost impossible. I frankly don't know where to start," he said.
"But I sit here now, today, with nothing but love, gratitude and pride," gushed Corden. "This show is everything I ever wanted it to be."
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