Jimmy Kimmel publicly backs Stephen Colbert in the face of outrageous allegations
Jimmy Kimmel, a nine-time Primetime Emmy Award winner, has weighed in on the recent cancellation of "The Late Show with Stephen Colbert," which occurred on Thursday, July 17. The cancellation has generated chatter and speculation in the media, with one widely reported claim suggesting that the show was losing $40 million annually. However, this claim has been disputed by Kimmel and other industry insiders.
In an interview with Variety on Monday, August 18, Kimmel called the rumor "beyond nonsensical." He explained that the focus on advertising revenue in financial analyses is misguided, as a percentage of affiliate fees is allocated to late-night shows, amounting to hundreds of millions, possibly billions, of dollars.
Kimmel noted that such analyses ignored critical revenue sources like affiliate fees, which contribute significantly to CBS overall and help fund late-night shows. He said the claim was “beyond nonsensical” and lacked understanding of TV economics.
The $40 million loss figure originated from a 2025 Puck News report citing anonymous sources, stating the show had a budget over $100 million per season and was losing money for CBS. However, no specific public data confirms the Late Show itself is losing money, and skeptics highlight that the show still ranks highly in its timeslot and collects awards, calling into question sudden huge losses.
CBS and its parent company Paramount officially cited financial reasons for ending the show, but did not confirm any specific loss amounts. Some commentators suspect political or corporate motivations behind the cancellation, but these are speculative and not supported by concrete financial evidence.
Despite past claims about financial losses, Kimmel's show continues to receive payment. During the first 10 years of "The Late Show," Kimmel's show had five times as many viewers on ABC as it does now, despite claims that it wasn't making any money.
Kimmel expressed support for his colleague Stephen Colbert amidst the ongoing rumors surrounding "The Late Show." He refuted the claim that "The Late Show" was losing $40 million a year, suggesting that the claims about his show's financial losses are not accurate.
In conclusion, the claim that "The Late Show with Stephen Colbert" lost $40 million per year lacks credible public evidence, is denied by industry insiders, and is contradicted by the show’s strong ratings and the complex revenue structure of network late-night television. CBS’s official explanation remains that the decision was purely financial but without disclosing detailed financials. The exact reasons for the cancellation of "The Late Show" have not been officially disclosed.
References:
- Puck News, 2025
- The Hollywood Reporter, 2025
- Variety, 2025
- CBS Press Release, 2025
- Jimmy Kimmel Live!, 2025
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