During the Rural Purge CBS did in the Early 70's which IMO was good many of the shows canceled were well past their best days and the shows that replaced them became Icons like MASH, All in the Family, Mary Tyler Moore, and Bob Newhart. But most of the older variety shows were canceled like Red Skeleton which had been on for 20 years and the myth was he was so angry he destroyed all the film copies of the show.
Truth was Red was angry and when he heard the rumor, he allowed it to continue but eventually he told the truth that no matter how angry he was he'd never destroy 20 years of his work.