While ratings for Colbert's show have declined over the last decade, the program has consistently achieved the highest views of any show in the 11:35 p.m. hour, outdrawing ABC's "Jimmy Kimmel Live" and NBC's "The Tonight Show Starring Jimmy Fallon," according to Nielsen.

It's difficult not to see how an ownership change impacted 'The Late Show' franchise, but the move also reveals stubborn truths about the cost of the programming vs. cheaper and infinite YouTube rivals.