Mass media company
) 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
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
The Walt Disney Company
) and Concast are acquiring assets, companies like CBS,
Time Warner Inc.
) 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
CBS CORP (CBS): Free Stock Analysis Report
DISNEY WALT (DIS): Free Stock Analysis Report
NEWS CORP NEW-A (NWSA): Free Stock Analysis
TIME WARNER INC (TWX): Free Stock Analysis
To read this article on Zacks.com click here.