CBS Names Colbert as Letterman Successor - Analyst Blog
April 11 2014 - 11:00AM
Zacks
Mass media company CBS
Corporation (CBS) named Stephen Colbert as the new host of
its popular American talk show titled “THE LATE SHOW,” which
enjoyed a successful run for over two decades hosted by the
legendary David Letterman.
Although Letterman announced his retirement from the show on April
3, Colbert will assume the new role only when the former chalks out
a schedule for his closing broadcasts in 2015. Also, the venue,
producers and certain other factors related to the Colbert show
will be determined later.
Colbert, who considers this to be a big achievement, signed a
5-year deal with CBS. Colbert is one of the most recognized
personalities on television. He has won accolades as the writer,
host and executive producer of the famous satirical show, ‘The
Colbert Report’, airing on Comedy Central since 2005.
The Colbert Report, which enjoys immense popularity, has received
27 Emmy nominations and bagged 4 of them along with 2 Peabody
awards. Prior to this, Colbert was a correspondent on the “The
Daily Show”, which was aired on Comedy Central for 8 years.
Apart from being an outstanding host, Colbert is a versatile
writer, producer, comedian, author and satirist. He has also gained
recognition in the fields of politics, music, publishing and
entertainment. With his oratory skills, he strikes conversations
with humor, new innovations, leaving the audience with significant
food for thought and thereby leaving a mark of his own.
The decision to replace Letterman with Colbert speaks volumes about
the company’s focus on upholding the standards set by its former
host for this late night show.
Further, as per various media sources, investors might react
positively to this new development at CBS, which has been
witnessing a downside since the spin-off of the company’s billboard
business, CBS Outdoor. In an era where conglomerates like
The Walt Disney Company (DIS) and Concast are
acquiring assets, companies like CBS, Time Warner
Inc. (TWX) and News Corporation (NWSA)
are carving out their businesses.
However, Colbert’s entry into the show might augment the company’s
revenues and push this Zacks Rank #3 (Hold) stock northwards.
CBS CORP (CBS): Free Stock Analysis Report
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TIME WARNER INC (TWX): Free Stock Analysis Report
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