Jimmy Kimmel challenges claims regarding Stephen Colbert's show losses

In mid-July 2023, during an interview with Variety, Jimmy Kimmel criticized CBS's decision to cancel 'The Late Show with Stephen Colbert.' Kimmel vehemently disputed reports that claimed Colbert's show was losing CBS $40 million a year, labeling these statements as 'beyond nonsensical.' He argued that those assessing the financial situation were overly focused on advertising revenue while ignoring significant affiliate fees, which he asserted were crucial to the overall profitability of late-night television. Kimmel clarified that the alleged losses were inaccurately depicted, and he noted that despite previous claims of financial struggle, his own show continued to receive funding from ABC. Kimmel's comments came amidst a broader discussion around the state of late-night television, where he emphasized that while network television is declining, late-night viewership remains strong, albeit in different viewing formats. He highlighted that many viewers from traditional times, like Johnny Carson's era, are now consuming content on various platforms, indicating a shift rather than a total loss of audience. Additionally, Kimmel expressed concerns about the implications of Paramount’s merger with Skydance, suggesting it led to Colbert's cancellation, which he perceived as an effort to silence voices in comedy and commentary. He invoked a principle of free speech, stating that he would oppose any actions from political figures to censor hosts, regardless of political alignment. Overall, the cancellation of Colbert's show raised significant discourse around the future of television content, financial models of late-night shows, and the broader cultural implications of free speech within the industry.