CBS was reportedly losing millions on James Corden’s late-night show

During James Corden’s lengthy run as host, “The Late Late Show” on CBS was reportedly losing as much as $20 million a year before going off the air.

Cordon, the British funnyman whose “Carpool Karaoke” skits made him wildly popular, signed off last week after eight years as “The Late Late Show” host.

However, the program was “netting less than $45 million” against annual production expenses of $60 million to $65 million, according to sources cited by Los Angeles Magazine.

“The Late Late Show” had become “wildly unprofitable” prior to its finale, reported ex-CNN anchor Brian Stelter, who wrote the article.

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

The sources added that Corden would have “faced a multimillion-dollar pay cut or painful staff reductions or both” if the show had continued with him as its host.

Corden presided over a star-studded finale for the program last Thursday, featuring appearances from actor Tom Cruise, a final edition of “Carpool Karaoke” with singer Adele and final guests Will Ferrell and Harry Styles. CBS is shutting down “The Late Late Show” after nearly 30 years in production.

Corden’s exit from “The Late Late Show” was first revealed in April 2022, with a Deadline report that he had extended his contract with CBS for one more year that would mark the end of his more than eight-year run as host.

At the time, Corden said he had made a “really hard decision to leave.”

The report also said CBS executives had scrambled to keep him on board, offering several contract extensions that he ultimately rejected.

“My bosses here at CBS have been incredibly supportive and extraordinarily patient with me while I made this decision,” Corden told the outlet at the time.

“We wish he could stay longer, but we are very proud he made CBS his American home and that this partnership will extend one more season on ‘The Late Late Show,’” added CBS CEO George Cheeks.

In 2019, Variety reported that Corden was paid in the $4 million to $5 million range during his first contract with CBS, but his pay had “climbed” as the program experienced success.

The final episode of “The Late Late Show” drew an average audience of 1.43 million viewers — its largest since 2021 and a 77% increase compared to its season-to-date average, according to the Wrap.