Rumors about the $40 million annual losses appeared to stem from reports published by a media outlet called Puck and the New York Post.

David Letterman is subtly showing support for his successor Stephen Colbert after CBS' shock cancellation of "The Late Show."

Late-night hosts including Jon Stewart and Jimmy Fallon joined Colbert in solidarity. “I’m going to go ahead and say it,” he quipped. “Cancel culture has gone too far.”