It makes sense that Cultural Studies has succeeded the New Historicism at the top of the humanities heap, because it’s even more unserious, even more indefinable, even more open to recherché (not to say inane and capricious) topics of “study”; to an even greater extent than the New Historicists, the typical practitioner of Cultural Studies combines a breathtaking cultural and historical illiteracy with a tendency to lean on pseudo-radical tropes about Western imperialism and so forth. In sum, it’s an intellectual and scholarly disaster. And its spiritual father is Stephen Greenblatt.
Stephen Greenblatt is one of the best know literary critics and the editor of The Norton Anthology. Not everone is a fan though.