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Jimmy Kimmel Responds to Reports Colbert ‘Late Show’ Was Losing $40 Million a Year

Jimmy Kimmel denies claims that Stephen Colbert's show lost $40 million annually, citing overlooked affiliate fees contributing hundreds of millions to CBS's revenue.

  • On August 18, Variety published that Jimmy Kimmel said the idea that Stephen Colbert’s show was losing $40 million a year is beyond nonsensical.
  • Last month, CBS announced it would end its Late Night franchise amid reports that The Late Show With Stephen Colbert was losing $40 million annually.
  • Highlighting revenue gaps, Kimmel said alleged insiders 'only be focused on advertising revenue and have completely forgotten about affiliate fees, which number in the hundreds of millions…probably in total billions'.
  • Stressing the shift in viewership, he said there is little chance that this is accurate, as more people watch late-night on Instagram and YouTube.
  • Supporting Colbert’s prospects, Kimmel noted he will vote for Colbert at the September awards and praised him as `very moral` and `extremely smart`.
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Variety broke the news in Los Angeles, United States on Monday, August 18, 2025.
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