Someone else in L.A. is out of a job--and we're not talking about Clippers owner Donald Sterling, who has been "banned for life" from the NBA after making racist comments to his 20-something girlfriend who conveniently leaked them to the media.
Instead, we refer to Craig Ferguson, the host of CBS's Late, Late Show since 2005. During the taping of Monday's show, Mr. Ferguson announced that he will leave the program at the end of this year.
Ferguson's departure comes only a few weeks after David Letterman unveiled similar plans, announcing his retirement after 30+ years as a late night host for NBC and CBS.
"CBS and I are not getting divorced, we are consciously uncoupling," Ferguson said. "But we will still spend holidays together and share custody of the fake horse and robot skeleton, both of whom we love very much."
He told the audience it was his decision to leave, adding, "CBS has been fine with me."
CBS Entertainment Chairwoman Nina Tassler said Ferguson "infused the broadcast with tremendous energy, unique comedy, insightful interviews and some of the most heartfelt monologues seen on television."
But in reality, the parting may not have been so amicable. While the Late, Late Show won a Peabody Award in 2009, its ratings have faded in recent years against NBC's "Late Night," hosted by Jimmy Fallon (who has since moved on to the Tonight Show) and more recently by another Saturday Night Live alum, Seth Meyers.
And Letterman's departure didn't help matters. As the host of the Late Show, Letterman also controlled the 12:30 time slot, producing the program that followed his, and selecting the host. It was a contract provision that underscored Letterman's tremendous clout at CBS, but that influence began to wane when his retirement was announced.
Guess we know how those talks went.
But don't feel too sorry for Mr. Ferguson. According to industry publications, his contract had a clause that provides a "consolation" payout of at least $5 million, in the event that Letterman retired and Ferguson was not selected to replace him.
Apparently, Ms. Tessler and the other executives at CBS consider that a good investment. With Stephen Colbert already lined up to host "The Late Show," they believe the time is right for a change at 12:30 as well. Sending Craig Ferguson packing (with a seven-figure check) is simply a cost of doing business.
And, that calculus makes a certain degree of sense. CBS has been losing the late night ratings wars for years, and they're looking for someone who can close the gap with NBC. Colbert is something of an odd choice, given the fact that he's been playing a character on his Comedy Central show for years. Relatively few viewers have seen the "real" Stephen Colbert and it's difficult to gauge his audience appeal. But, with Colbert making far less than Letterman, the network can actually improve its profit margins, even if viewership doesn't increase substantially. Now, they're making a similar bet for the 12:30 time slot. Acccording to the New York Post, there are at least five contenders for Ferguson's job and the actual number might be six, if you include Chelsea Handler, who was mentioned as a possible Letterman replacement until they signed Stephen Colbert.
This much is certain: audience levels for late night talk shows are down dramatically since the hey-day of Johnny Carson. In today's era of limitless entertainment options, not even the literal resurrection of Mr. Carson would bring them back.
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ADDENDUM: The Scottish-born Ferguson was something of an acquired taste, but I found him amusing. His next gig is hosting a syndicated game show, which indicates how far his stock has fallen as a talk show host.
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