Yep, they lose money. Pretty soon the accountants take notice.
Gutfield also has had an impact.
Yes, they each only have about two million viewers every night. Johnny Carson was the sole late night host for decades on NBC and there was barely enough watchers back then.
Interesting to hear that these shows lose money.
I recall hearing decades ago, that Johnny Carson’s program was responsible for a disproportionate amount of the profits of NBC.
Things have certainly changed in the TV business.