Jimmy Kimmel has responded to reports that The Late Show with Stephen Colbert was losing $40 million a year before its cancellation. In an interview with Variety published on Monday, August 18, Kimmel dismissed the claims as “beyond nonsensical”. He pointed out that the financial loss reports only focused on advertising revenue and overlooked affiliate fees, which amount to hundreds of millions of dollars.
Kimmel compared his own show, Jimmy Kimmel Live!, which initially reported no profit during its first decade despite having five times more viewers than it does now. The host said that what’s most important is the money they keep paying them, rather than speculation about their supposed losses.
The news comes as CBS surprised viewers with the cancellation of The Late Show in May 2026, citing financial decisions unrelated to performance or content. Some have speculated that President Trump might be involved, but he denies any role and claims the show was cancelled due to low ratings caused by “talent deficiency” and resulting losses.
In response to Trump’s claims about Kimmel being next on the chopping block, Kimmel shared a screenshot of Trump’s post on his Instagram, jokingly saying “I’m hearing you’re next. Or maybe it’s just another wonderful secret.” The news follows Paramount’s settlement with Donald Trump over an edited interview with Kamala Harris and its merger with Skydance, which is awaiting FCC approval.
Source: https://www.tvinsider.com/1209626/jimmy-kimmel-says-late-show-losing-money-reports-are-not-accurate