Complex sentence: Its first television production was The Colbert Report, produced by Stewart, Stephen Colbert, and Ben Karlin, and subject to a distribution agreement between Busboy Productions and Comedy Central, which will make sure that "the report" runs through 2007.
Split into simpler sentences: Its first television production was The Colbert Report, produced by Stewart, Stephen Colbert, and Ben Karlin, and subject to a distribution agreement between Busboy Productions and Comedy Central. Busboy's agreement with comedy central will make sure that "the report" runs through 2007.