Jimmy Kimmel challenged the assertion that Stephen Colbert's The Late Show is losing CBS $40 million, labeling it nonsensical. CBS's financial decision to cancel the show coincided with reports citing a loss between $40 and $50 million. Kimmel criticized analysts focused solely on advertising revenue, overlooking the significant contribution from affiliate fees. He provided personal experience as evidence, stating that similar claims were made during his earlier years on ABC, despite having many more viewers. Kimmel expressed his support for Colbert, lauding his ethics and intelligence amidst the Emmy campaign.
When CBS canceled The Late Show on July 17, the network called it "purely a financial decision," and later reporting pegged the show's annual loss at between $40 and $50 million.
Kimmel added, "There's just not a snowball's chance in hell that that's anywhere near accurate." And he even used his own numbers as proof, saying, "I will tell you, the first 10 years I did the show, they claimed we weren't making any money - and we had five times as many viewers on ABC as we do now."
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