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There's a really cynical part of me that wants to say that he was picked largely because of his recent bit of trouble with the whole cancel Colbert thing. The rage behind that is enough to attract viewers for a few episodes just to see if he fails horribly. Doesn't matter to programmers if they're watching because they like him, or because they hate him, they care that they're watching.

Remember, as much of a cultural icon the Late Show is, it's really just another way to sell ad time.