CBS In Deal To Keep 'The Late Show' in New York

July 24, 2014 10:56 AM

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US television giant CBS Corp. is set to receive a sizeable subsidy from the state of New York in return for its commitment to keeping ‘The Late Show’ in the city. Approximately $16 million will be made available to CBS over a five-year period.

Details of the deal indicate that $11 million will be in the form of tax credits and grants for the actual running of the show, and the remaining $5million is earmarked for renovating the Ed Sullivan Theater where the show is recorded.

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