Overview

• In new comments, Jimmy Kimmel called reports that The Late Show lost $40–50 million a year “beyond nonsensical,” arguing they ignore affiliate-fee revenue.
• Conan O’Brien told the Television Academy Hall of Fame that late-night TV “is going to disappear” but said Stephen Colbert will “shine brighter” in a new format he controls.
• Paramount and CBS executives continue to frame the decision as economics, citing falling late‑night ad revenue and high production costs.
• The timing has drawn scrutiny from politicians and industry peers after Paramount paid President Donald Trump $16 million to settle a lawsuit as a Skydance deal moved forward.
• O’Brien, who has already shifted to podcasts and streaming projects, said audiences now follow hosts across platforms rather than a single broadcast time slot.