Byron Allen’s stand-up and comedy showcase “Comics Unleashed” is set to move into Stephen Colbert’s former CBS late-night position. Multiple outlets report that Colbert’s final “Late Show” episode airs Thursday, after which “Comics Unleashed” takes over the time slot on Friday. CBS characterizes Allen’s arrangement as a paid lease for the programming slot, with Allen also selling advertising for the show himself, according to The Guardian.

Several reports note that CBS disclosed financial information amid scrutiny and speculation about the decision to end “The Late Show.” The Hollywood Reporter and Deadline say CBS addressed the network economics of late-night and shared figures indicating that “The Late Show” ran at a loss while positioning “Comics Unleashed” as profitable or expected to improve profitability. The Hollywood Reporter also says CBS rep described late night programming as “cost prohibitive” to produce internally.

Allen, a media executive and comedian, discusses the transition and his plans for late night in interviews, including talks about how “Comics Unleashed” fits into CBS’s schedule and how his deal operates.