CBS 'Was LOSING As Much As $20 million A Year On James Corden's The Late Late Show' Where He Earned Up To $5M A Year: 'The Network Couldn't Afford Him Anymore'

 

An emotional Corden bid a tearful farewell while signing off on his final The Late Late Show last month, as he prepares to return to the UK

His Late Late Show was losing CBS up to $20million a year and may have been axed had he stayed or not, Los Angeles Magazine reported

James Corden's Late Late Show was losing CBS up to $20million a year and may have been axed had he stayed or not, it has been reported.

The British actor was reportedly being paid around $5million a year to host the program, which was costing between $60million to $65million a year to make, but netting less than $45million, sources told Los Angeles Magazine.

'It was simply not sustainable,' one executive told ex-CNN anchor Brian Stelter, who wrote the article. 'CBS could not afford him anymore.'

If Corden had wanted to stay he would have faced a multimillion-dollar pay cut and brutal staff reductions, according to two sources who worked with him.

The station is now shutting down The Late Late Show after nearly 30 years. 

The British actor's final show also included an appearance from Harry Styles, who has been a regular guest of Corden's

CBS have previously insisted Corden's departure after eight years was entirely his own decision.

After it was announced the comedian was leaving the show last April, one source told DailyMail.com: 'We desperately tried to keep him for longer, but James only wanted to do one final year.'

Deadline reported that the network had desperately tried to keep Corden and offered him several contract extensions.

'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.

Corden was paid between $4million to $5million during his first contract with CBS, according to Variety, but this 'climbed' as the show became a hit.

But Nielsen ratings show that when Corden debuted in 2015, he was averaging around 1.6 million viewers, but this had halved by the end of his eight-year run.

An emotional Corden bid a tearful farewell while signing off on his final The Late Late Show last month, as he prepares to return to the UK. 

PR experts have claimed Corden could be set for a big-money move to ITV and even replace rival Jonathan Ross as part of a charm offensive to 'win back the British public'

The 44-year-old TV personality ended his run on US television by performing a piano ballad with several references to his 1,200 episodes.

His final guests included his pop megastar friend Harry Styles and comedian Will Ferrell, messages of support from President Joe Biden and a Carpool Karaoke with Adele.

The President didn't drop by the studio, but instead filmed a short video appreciation of Corden's eight-year stint on the series from what appeared to be the White House.

The actor and presenter said he decided to quit the show and wanted to spend more time with his family after a heartfelt conversation with his son, Max.

PR experts have claimed Corden could be set for a big-money move to ITV and even replace rival Jonathan Ross as part of a charm offensive to 'win back the British public' after a slew of negative headlines while in the US.

DailyMail.com has contacted CBS for comment.