Jimmy Fallon’s late night spot at NBC is secure — for the moment — after CBS gives Colbert the axe

Jimmy Fallon’s late night spot at NBC is safe – for the moment – after signing an extension to his multi-million-dollar contract until 2028.

The host will continue to lead “The Tonight Show Starring Jimmy Fallon” while also hosting his new reality show, ‘On Brand’ which debuts next month and appearing on “Password.”

It comes as nighttime talk shows are the in crosshairs, with Stephen Colbert’s “The Late Show” axed by CBS and others in the under-performing bracket said to bracing for shake ups or cancellation.

Fallon and his fellow NBC late night host, Seth Meyers, have also had to take hits.

“Seth and Jimmy had budget cuts last year, which saw Jimmy go from five days a week to four days,” pointed out an industry insider, “He records Monday through Thursday and the show repeats on Friday.”

Meanwhile, the “Late Night With Meyers” house band was axed to cut costs.

Late night viewership has been impacted by the rise in social media use, particularly with the younger demographic, and cries that it has become desperately partisan — filled with Democrat-party-approved liberal guests across the board.

Colbert announced CBS had pulled the plug on his show last month and the show will end in May 2026. Some raised eyebrows at the timing as it came after Colbert criticizing his network for paying $16 million to settle a defamation case with President Donald Trump, as the company is also in the middle of a merger.

A CBS source told Page Six: “While his staff liked him, corporate didn’t … and Colbert’s contract was up… so it was a perfect storm.”

Trump addressed the firing on Truth Social and warned others will be next.

“The reason he (Colbert) was fired was a pure lack of TALENT, and the fact that this deficiency was costing CBS $50 Million Dollars a year in losses — And it was only going to get WORSE!’ he wrote.

“Next up will be an even less talented Jimmy Kimmel, and then, a weak, and very insecure, Jimmy Falon. The only real question is, who will go first?” Trump asked.

A NewsBusters survey last month found 99 percent of the political guests on late night talk shows between January and the end of June were left-leaning.

Looking at the five main late night shows: Colbert, Fallon, Meyers, “Jimmy Kimmel Live!” on ABC, and ‘The Daily Show’ with Jon Stewart on Comedy Central; the grand total was 106 guests with liberal points of view including journalists, celebrities and party officials, compared to just one conservative.

When it came to official party representatives, the count was 30 Democrats to zero Republicans.

Fallon interviewed zero politicians during the study’s run. However, he did once interview Trump in September 2016, where he ruffled his hair, causing a storm of headlines.

“I think he must still have PTSD from that,” said a TV source, who described Fallon as middle of the road, politically.

Fallon, however, has more recently booked Fox News late night host Greg Gutfeld for this Thursday and also recently had Barstool Sports’ Dave Portnoy, noted for his conservative views, as a guest.

Another insider said, “Jimmy is more motivated by entertaining his viewers [the political point scoring], and he knows the importance of digital-first content.” 

Meanwhile, multiple sources insisted Kimmel will keep hold of his show as long as possible and continue to target Trump.

“Even if he was thinking of retirement he most definitely will stay now,” said one source while another TV source added, “Dana [Disney President, Dana Walden], would never axe Kimmel,” assuring his job is safe.

James Andrew Miller, who penned the book “Live From New York” about the “Tonight Show,” which NBC launched in 1975, told Page Six, even with politics aside, the late night audience simply isn’t what it used to be, hence the economics have changed.

“This is not earth shattering news! but it’s the truth,” he said.