James Corden’s chat show was ‘losing $20m a year’ before his exit

The Late Late Show with James Corden was allegedly losing up to $20m (£16m) a year before the host bowed out last week, according to reports.

Corden left the CBS chat show after eight years on April 28. He previously stated that he’d decided to leave the programme due to his family and intended to move back to the UK.

Now, a report in Los Angeles Magazine claims that the show was losing the channel millions a year.

Former CNN anchor Brian Stelter writes that The Late Late Show was earning less than $45m (£36.1m) against a $60m to $65m (£47.8m to £51.8m) annual budget.

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“It was simply not sustainable,” one unnamed executive reportedly told Stelter. “CBS could not afford him anymore.”

CBS

Sources also reportedly told the publication that even if Corden decided to keep his position, he would have faced “a multimillion-dollar pay cut or painful staff reductions”.

Corden welcomed the likes of Tom Cruise, Will Ferrell and Harry Styles on his final programme, as well as taking part in the final Carpool Karaoke with Adele.

The presenter concluded with a warning for America to remember “what it signifies”.

“I’ve struggled to find the words to sum up what this past eight years have meant to me,” Corden said.

“We started with Obama, then Trump, then a global pandemic. I’ve watched America change a lot over these past few years, I’ve watched divisions grow, I felt a sense of negativity.

“I guess all I really want to stay is, I implore you to remember what America signifies to the rest of the world. My entire life, it’s always been a place of optimism and joy. Sure, it has flaws. Show me a country that doesn’t… every single one of us is a work of progress.”

The Independent contacted CBS for comment.

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