CBS has confirmed that ‘The Late Show with Stephen Colbert’ will conclude in May 2024, marking the end of the franchise after a decade under Colbert’s hosting. The network cited financial challenges in late-night TV as the reason, emphasizing that the decision was unrelated to the show’s performance or content. Colbert, who replaced David Letterman in 2015, announced the news during a taping, with audience members expressing disappointment. CBS executives clarified that no replacement is planned, signaling a shift in the network’s late-night strategy.
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0 in Finance and 0 in Crypto last weekUS Banks Pay $120M to Settle Archegos Collapse Lawsuit
Morgan Stanley, Goldman Sachs, and Wells Fargo will pay $120 million to settle allegations that they hid conflicts of interest while assisting Archegos Capital Management in placing leveraged bets on ViacomCBS (now Paramount Global). The lawsuit, filed by former ViacomCBS shareholders, claims the banks acted as underwriters for ViacomCBS while simultaneously aiding Archegos’ risky trades, contributing to its $36 billion collapse in 2021. Archegos founder Bill Hwang and ex-CFO Patrick Halligan were convicted of fraud in 2024, receiving 18 and 8 years in prison, respectively. The banks deny wrongdoing but agreed to settle, pending court approval.
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