In a moment that’s being hailed as the death knell for scripted late-night TV, Jimmy Kimmel and Stephen Colbert stunned America on November 11, 2025, by abruptly tossing their cue cards mid-broadcast, linking arms, and strolling off their respective sets together – Kimmel from Hollywood’s El Capitan Theatre, Colbert from New York’s Ed Sullivan Theater. The synchronized walkout, beamed live to millions, wasn’t a stunt; it was the explosive debut of “Truth News,” a subscriber-based streaming platform vowing unfiltered, ad-free content that “puts people over profits.” Within 48 hours, the site racked up 12 million sign-ups, surpassing Netflix’s launch-day record and sending traditional networks into a tailspin.

The chaos unfolded at 11:35 p.m. ET during Colbert’s monologue on The Late Show. As he riffed on the latest Trump administration FCC crackdowns – a nod to the real-life suspensions both hosts faced earlier this year – Kimmel appeared via satellite from his empty Jimmy Kimmel Live! desk. “Stephen, I’ve had it,” Kimmel deadpanned, crumpling his script. “No more punchlines for the censors.” Colbert, eyes twinkling with mischief, mirrored the move: “Then let’s punch back – together.” The duo stood, waved to stunned audiences, and exited stage left, screens fading to a simple logo: “Truth News: Because Lies Don’t Sleep.”

Viewers were gobsmacked. Social media detonated – #TruthNewsLaunch hit 8.7 million mentions in the first hour, with clips of the walkout amassing 45 million views on TikTok by dawn. “I just witnessed the end of TV as we know it,” tweeted user @LateNightRebel, whose post garnered 2.1 million likes. Another, @ComedyInsider: “Kimmel and Colbert didn’t quit – they quit on their terms. Networks are sweating.” Even skeptics, long tired of late-night’s formulaic politics, tuned in: “Finally, something real,” posted a former Fox viewer.

The backstory is a powder keg of industry frustration. Colbert’s Late Show was axed by CBS in July 2025, officially for “budget realignments” post-Paramount-Skydance merger, but insiders whispered retaliation for his sharp Trump jabs – including a $16 million defamation settlement CBS paid the former president. Kimmel’s Jimmy Kimmel Live! faced a one-week suspension in September after his monologue linking conservative activist Charlie Kirk’s assassination to MAGA rhetoric, with FCC Commissioner Brendan Carr threatening “regulatory action.” ABC reinstated it swiftly, but preemptions by affiliates like Sinclair lingered until late September. “We were muzzled,” Kimmel told Variety in a pre-launch interview. “Truth News is our megaphone.”

Launched at midnight November 12 via a bare-bones website (truthnews.live), the platform promises “100% real content” – no corporate sponsors, no algorithmic feeds, just live streams, podcasts, and specials from Kimmel, Colbert, and a rotating roster of “truth-tellers.” Day-one lineup: Kimmel’s unscripted roast of FCC overreach; Colbert’s deep-dive on media consolidation; guest spots from Jon Stewart and Seth Meyers. Subscription tiers start at $4.99/month, with a “Rebel Tier” at $9.99 unlocking ad-free access and virtual town halls. By November 13, revenue projections topped $50 million quarterly, dwarfing Colbert’s former CBS payday.

Networks are reeling. ABC and CBS stocks dipped 3% and 4% respectively on Wall Street, with analysts at JPMorgan warning of a “late-night exodus.” Disney CEO Bob Iger called an emergency call with affiliates, while Paramount’s David Ellison tweeted: “Innovation thrives in competition – best of luck to Jimmy and Stephen.” Privately, execs panic: Late-night viewership, already down 25% since 2020, relies on 18-49 demos now flocking to TikTok and podcasts. “They’re not just leaving; they’re taking the audience,” said Nielsen’s Brian Fuhrer.

Fans are euphoric, dubbing it “the end of fake TV.” On Reddit’s r/LateNightTV, a thread titled “Kimmel/Colbert Walkout: Revolution or Gimmick?” swelled to 150K upvotes, with users sharing montages of past censored bits – Colbert’s blacked-out Trump skits, Kimmel’s bleeped Kirk commentary. “This is what we’ve waited for: Comedy without the leash,” wrote one. Celebrities piled on: Oprah Winfrey posted: “Truth isn’t optional – it’s oxygen. Rooting for you both.” Elon Musk, ever the provocateur, quipped on X: “Finally, news that doesn’t suck. Subscribed.”

Insiders warn the shift could redefine entertainment. “Late-night was dying anyway – too political, too predictable,” says media consultant Ari Emanuel. “Truth News flips the script: Viewer-funded, creator-controlled. It’s Patreon on steroids.” Early metrics back it: 70% of sign-ups from under-35s, with viral challenges like #MyTruthMonologue encouraging user-generated rants. A beta test in October drew 500K participants, hinting at a democratized media model where fans vote on topics.

Not everyone’s cheering. Conservative outlets like Fox News slammed it as “lefty echo chamber 2.0,” while FCC Chair Carr vowed “oversight” on streaming regs. Colbert addressed critics in his launch stream: “We’re not anti-network – we’re pro-truth. If that scares you, good.” Kimmel added: “We walked because staying meant selling out. This? It’s freedom.”

As November 13 dawned, Truth News streamed its first all-nighter: A 12-hour “Truth-a-Thon” blending stand-up, interviews, and viewer Q&A. Guests included Rachel Maddow (rumored for a weekly slot) and David Letterman, who called the duo “brave idiots – my favorite kind.” Ratings? Unquantifiable yet, but app downloads topped 20 million globally.

For Kimmel, 57, and Colbert, 61 – both Emmy-laden vets who’ve skewered power for decades – this is reinvention. No more 4 a.m. prep for network suits; now, they set the clock. “We broke TV so we could build something better,” Colbert said post-walkout. Kimmel nodded: “Literally – cue cards in the trash where they belong.”

The internet meltdown continues: Memes of the duo as rebel icons flood feeds, petitions for cameos pour in, and parody accounts launch “Fake News” rivals. Entertainment? Forever altered. In an age of deepfakes and distrust, Truth News isn’t just a platform – it’s a promise. And if the first 48 hours are any gauge, it’s one America’s ready to keep.