Overview

• Jimmy Kimmel told Variety that reports The Late Show lost about $40 million a year are "beyond nonsensical," arguing the analyses ignore affiliate fees that should be allocated to late-night programs.
• CBS and Paramount said the decision to end The Late Show with Stephen Colbert in May 2026 was purely financial given a challenging late-night landscape.
• Conan O’Brien, speaking at his Television Academy Hall of Fame induction, said late-night TV as it has existed since the 1950s will disappear, predicting Colbert will "evolve" in a new, self-controlled format.
• Paramount’s $16 million settlement with President Donald Trump and the timing relative to Colbert’s cancellation have drawn political and public scrutiny, with questions intensifying after the Skydance merger won regulatory approval.
• Kimmel rejected the narrative that late-night is "dead," noting audiences now watch monologues and segments across streaming and social platforms in addition to traditional broadcasts.