Wednesday afternoon, CBS and New York Governor, Andrew Cuomo, announced that the “Late Show” will stay in New York City when Stephen Colbert takes over hosting duties from David Letterman next year.
Reports claim that Los Angeles and governor Eric Garcetti attempted to lure Colbert and the “Late Show” from its NY home, but Governor Andrew Cuomo stepped in. Cuomo offered CBS CEO Leslie Moonves $11 million in tax credits over a five year span through the excelsior tax credit program, geared toward job creation. The tax credit was offered in return for keeping the show in New York and a promise to maintain around 200 year-round jobs. Cuomo also offered $5 million in grants to renovate the historic Ed Sullivan Theater, where the show will be filmed.
This is not the first time NY taxpayers have ponied up to keep their late night television viewing based in New York City. Last year, lawmakers approved a change in law to make the “Tonight Show” eligible for a film-production tax credit when it moved back to New York as Jimmy Fallon took over hosting duties. Garcetti, commenting on Los Angeles’ inability to secure the well-known late-night show, noted the importance of expanding the film and television credit program to bring such entertainment jobs back to LA.