Kimmel defended Colbert against financial loss allegations, arguing media reports ignore hundreds of millions in affiliate fees when analyzing late-night show budgets.

The late night host said the "alleged insiders" simply "don’t know what they’re talking about" when it comes to Stephen Colbert's program.

In early June, Hacks star Jean Smart made a guest appearance on The Late Show With Stephen Colbert. She told him she’d love for him to appear on the upcoming fifth season of her Emmy-winning show about a legendary stand-up comedian stashed away in Las Vegas and canceled Gen Z writer Ava, played by Hannah Einbinder, who comes to her rescue.

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.”

In August 2025, a rumor circulated online that comedian Stephen Colbert and U.S. Rep. Jasmine Crockett, D-Texas, had teamed up for the launch of a new television talk show. These posts included purported details about the alleged new TV show,

With the cancellation of "The Late Night with Stephen Colbert" looming, "The Daily Show's" director David Paul Meyer shares insights into the evolving nature of satirical programming and the challenges facing late-night TV.

Stephen Colbert is officially on summer vacation. The comedian's late-night talk show, The Late Show with Stephen Colbert, aired its last new episode before its summer hiatus on Thursday, Aug. 7, meaning fans won't get new episodes for a few weeks.