The “Late Show” host, whose program was canceled by Paramount earlier this year, took Tuesday night’s monologue to wonder aloud about the state of the company’s finances amid a $108 billion offer from CEO David Ellison to buy Warner Bros. Discovery. When Paramount, the parent company of CBS which airs the “Late Show,” canceled the program earlier this year, the entertainment giant cited financial concerns.
Colbert, however, wondered how that could be true, as this month, Paramount offered a sizable hostile bid for Warner Bros. after the company agreed to a deal with Netflix. The Netflix deal is valued at $82.7 billion, or $27.75 per share of WBD common stock, while Paramount’s offer rang in at $30 per share, pushing the total over $108 billion.
The fight for Warner Bros. gets hostile. Consumers have a lot to lose.
“Wow. I gotta say, if my company’s got that kind of green, I’m sure they can afford to un-cancel one of their best shows,” Colbert quipped during a Dec. 9 broadcast. “CBS, you heard the people — bring back ‘The Equalizer.'”Watch it here: Stream your favorite shows, the biggest blockbusters and more.
Noting reports that chunks of Paramount’s offer come from foreign wealth funds, Colbert added: “And when the dictator of Saudi Arabia gives you billions of dollars, I’m sure there’s no catch. In a totally unrelated story, I’m looking forward to next season’s new CBS hit comedy, ‘Young Mohammed bin Sheldon.'”Netflix is buying Warner Bros. Here’s what it means for you
Netflix’s proposed deal with Warner Bros., and the subsequent bidding war it set off, has rattled the entertainment industry. Capping a decade defined by streaming wars, the large entertainment unions began blowing the whistle on anti-trust, claiming that the merging of major studios threatens artistic expression, worker conditions, the health of the movie theater business and consumer prices.
“The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent,” The Writers Guild of America said in a statement Dec. 5. “The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers.”
“Industry workers along with the public are already impacted by only a few powerful companies maintaining tight control over what consumers can watch on television, on streaming, and in theaters. This merger must be blocked,” the statement continued, in a seeming plea to the Federal Communications Bureau.
That the FCC may take center stage marks a full circle moment for Colbert, who, some speculated, saw his show canceled as a move of political acquiescence. Perhaps the sharpest critic of President Donald Trump in the late-night lineup (though Jimmy Kimmel is certainly in the running now), Colbert’s program was axed by Paramount as the company had a major merger with Skydance Media before the FCC.
When news of the “Late Show” cancellation broke, many accused Paramount of sacrificing Colbert to grease the wheel of approval – which they gained shortly after. Paramount denied those claims, zeroing in on the consistent losses of the show, and insisting the decision was purely financial.
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