Byron Allen's model is to buy the time from CBS, cash on the barrelhead, and sell the ad time himself. If this succeeds, he looks like a prophet and pockets a nice profit. But if the 995,000 estimate really is first-week lookee-loos, and those initial viewers abandon the program after one, or a few, samplings, that number is going to deteriorate quickly. At which point Allen is going to have a real hard time selling all those avails while still being contractually committed to paying CBS for the time slots. That's a prescription for a bankruptcy. If Allen runs through his company's cash reserves trying to get a leaking zeppelin off the ground, CBS may find itself with a double problem: no more revenue from Allen's money spigot, and no programming to air in those timeslots.The other thing to keep in mind (if I'm remembering this correctly) is that Mr. Allen is paying CBS for the timeslot, meaning that the network doesn't have as much of a vested interest in Mr. Allen's ratings as they did Mr. Colbert's. On the other hand, if Mr. Allen's ratings go only down from here, Mr. Allen might want to reconsider the idea of paying CBS to air his shows.
On the other hand, this may be the kind of late night programming the heartland has been hungering for, and CBS and Allen will laugh all the way to the bank.