Business
Trump’s threats against late-night TV could spell more trouble for advertisers
A sign is displayed outside the El Capitan Entertainment Centre in Hollywood where the “Jimmy Kimmel Live!” show will be recorded on the first night the show will return to the ABC lineup on September 23, 2025 in Los Angeles, California.
Mario Tama | Getty Images
Late-night television has come under fire in recent months. That could leave advertisers and media companies, already clinging to what’s left on live TV, with an even smaller pool of options.
The recent upheaval in late-night programming — namely the cancellation of “The Late Show with Stephen Colbert” and the temporary suspension of “Jimmy Kimmel Live!” — has shown a spotlight on ratings and revenue for late-night standouts and spurred questions of political influence.
President Donald Trump, aggressively vocal about both Colbert’s and Kimmel’s bad fortune, has called for late-night shows on NBC hosted by Jimmy Fallon and Seth Meyers to be next on the chopping block.
The result is not just uncertainty for viewers, TV executives and show staffs, but a pall over an advertising category that’s long been a staple of live TV.
“Reaching a lot of people who are engaged because it’s live TV — or live-to-tape — is really important, and when you think about it from the media company’s perspective … the live moments are live sports on most given nights, the nightly news and late-night talk shows. That’s all you have,” said Kevin Krim, CEO of ad data firm EDO.
“To the people who think late night doesn’t matter, they’re not thinking about the economics and the goals and the incentives of both the advertisers and the media companies. They’re ignoring some of the strategic value of the ecosystem,” he added.
When Disney’s ABC pulled “Jimmy Kimmel Live!” off the air in September, it was unclear for days if or when the program would return. While Disney reinstated Kimmel less than a week later, more than 20% of the country still couldn’t watch the show for three additional days as two major broadcast station owners preempted the content.
Colbert’s show will end next year after CBS parent Paramount announced in July it wouldn’t renew the program, citing financial considerations. The company has yet to reveal plans to fill the timeslot or give it back to the affiliate network owner.
The fervor around Colbert’s upcoming cancellation caused a temporary ratings surge, and Kimmel’s suspension led the show to rake in millions of viewers upon its return — way above the average and a missed opportunity for advertisers in the markets where Kimmel was preempted.
Late-night draw
Traditional TV viewership has decreased as the audience opts for streaming. But live content still garners the biggest ratings, which includes late-night talk shows.
As a result, late-night shows remain a valuable time slot for advertisers, especially for a younger demographic.
“Late-night may not draw the same mass audiences it once did, but the viewers who tune in are highly intentional. For advertisers, that makes the space less about sheer scale and more about reaching a consistent, engaged community,” said Julie Clark, longtime ad industry executive and current senior vice president of media and entertainment at TransUnion.
“Jimmy Kimmel Live!” was considered among the top 10 of ABC’s best vehicles for advertising reach, with the show delivering 2.5% of the network’s total ad exposures, or 11.8 billion national TV impressions, according to ad measurement firm iSpot.
According to EDO, in order to generate as much ad impact as one ad in the late-night comedy broadcast programs — that’s Kimmel, Fallon, Meyers and Colbert — advertisers would need to air, on average, about four spots across competitive late-night programming this year. In this case, competitive late-night programming means everything aired on broadcast and cable TV, excluding the late-night hosts, during these time slots.
Brands launching new products still get their best success from live TV commercials, according to ad industry executives.
But advertisers have begun to cut back on ad spending in the face of macroeconomic headwinds and trade uncertainty. Recently, eMarketer and the Interactive Advertising Bureau each released reports projecting a pullback in ad spending, not just for TV but also digital and streaming, due to higher costs for companies brought on by tariffs.
As advertisers trim spend and Trump puts late night in his crosshairs, the costs of these TV programs are coming under the microscope.
Weighing the costs
Media companies’ priorities have shifted to building out their streaming platforms in a push for profits. Pay TV networks still make the majority of the profits, but that number is shrinking.
“Generally speaking, viewership of late night talk shows has been low compared to what they once were, but it’s less about a specific host or show and more about the shift in how people consume television,” said Vicky Chang, vice president of media at Tatari, a TV ad platform.
Paramount said in July its move to end Colbert was “purely a financial decision against a challenging backdrop in late night.” Kimmel’s show will face another test when his contract comes up in 2026.
“Late-night TV and daytime morning shows used to be two of the most profitable areas of TV, more so than sports because of the big sports rights fees. Networks typically made a huge amount of money,” said Jonathan Miller, longtime senior media industry executive who serves as CEO of Integrated Media. “Initially late-night shows weren’t very expensive, but the costs have gone up. But ratings have declined so it’s less profitable – and hosts still want a lot of money.”
The focus for media companies is increasingly on content that guarantees big live audiences — by and large, live sports. This has led to hefty spending on sports rights over other kinds of content.
Weeks after Colbert said this season would be his final, the newly merged Paramount Skydance announced a $7.7 billion media rights deal with UFC. ABC parent Disney and NBCUniversal last year signed a new media rights deal with the NBA worth $77 billion over 11 years.
Media companies are also facing the daunting cost of rising political pressure.
Trump and Federal Communications Commission Chair Brendan Carr have ramped up scrutiny of media companies during the president’s second term in office.
Last year ABC News agreed to pay $15 million toward Trump’s presidential library to settle a lawsuit over comments by TV anchor George Stephanopoulos that Trump called defamatory. And this summer Paramount agreed to pay $16 million to settle a lawsuit over the editing of a CBS “60 Minutes” interview with then-Vice President Kamala Harris.
Weeks after that settlement, Paramount and Skydance won federal approval for their long-awaited merger.
Colbert later referred to Paramount’s settlement as a “big fat bribe” during one of his show’s opening monologues. Soon after, the company announced the future end date of the late-night show.
Disney’s suspension of Kimmel came on the heels of comments by the FCC’s Carr that suggested affiliate ABC stations could lose their broadcast licenses if they aired content that was against the “public interest.” Trump made a similar threat regarding the broadcast networks that he said are “against” him.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant.
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Bolstered by the popularity of Premanand Maharaj and the Banke Bihari Temple Corridor, Varanasi’s land prices have gone from Rs 20,000 per 900 sq ft to Rs 1 crore in just 4 years
Ayodhya land prices increased 50-100% due to Ram Temple construction.
In a striking shift from the traditional focus on metro and tier-1 cities, the real estate landscape is witnessing a new trend as pilgrimage and religious cities are becoming prime destinations for homebuyers and investors. Cities such as Ayodhya, Varanasi, Prayagraj, Vrindavan, and Haridwar are seeing a surge in property demand, with some areas experiencing price jumps of up to 500%.
Experts attribute this boom to a combination of religious tourism, major infrastructure projects, and increased economic activity in these cities. “The construction of the Ram Temple in Ayodhya, the Kashi Corridor in Varanasi, and major festivals like the Maha Kumbh have attracted a growing number of devotees,” said a property analyst. He said that the rise in footfall is directly influencing real estate, with demand for second homes, retirement properties, and serviced apartments at an all-time high.
Vrindavan: Prices Jump 500%
Vrindavan has emerged as one of the most expensive religious real estate markets in the country. The city’s growing prominence, bolstered by the popularity of Saint Premanand Maharaj and the Banke Bihari Temple Corridor, has seen land prices escalate from Rs 20,000 per 100 square yards to over Rs 1 crore in just four years in approved residential projects like Rukmini Vihar. Developers such as Omaxe, Basera, and Amaiya are actively launching high-rise residential and commercial projects, including Omaxe Krishna Crest, Omaxe Eternity, and Omaxe Bettgather Courtyard Mall, catering to the surge in demand.
Ayodhya: Land Prices Soar 50-100%
Ayodhya has witnessed a dramatic rise in property rates since the construction of the Ram Temple started. Land surrounding the temple has seen prices climb by 50-100%, prompting developers to plan theme-based townships and modern residential projects. Local developer Ayodhya Home & Soul Developers is reportedly preparing to launch a significant residential project in the city. Improved infrastructure and government-backed initiatives are further enhancing returns, making Ayodhya a hotspot for investors and homebuyers alike.
Prayagraj: From Industrial Hub to Real Estate Attraction
The Naini area in Prayagraj is rapidly transforming, driven by its emergence as both an industrial and educational hub. Developers, including Omaxe, are establishing large residential projects such as Omaxe Sangam City and Omaxe Ananda, shifting the market from traditional low-rise housing to high-rise developments.
Dehradun: Penthouses and Luxury Apartments in Demand
In Dehradun, Sahastradhara Road and Rajpur Road, along with areas near Tapkeshwar Mahadev and Drone Cave Temples, are witnessing growing real estate interest. Projects like Sikka Kimaya Greens and Excentia Tatva are introducing luxury apartments, high-rises, and penthouses, merging modern amenities with serene surroundings. Excentia Tatva, in particular, is being promoted as the city’s first uber-luxury residential experience.
Varanasi: A Rising Hub for Real Estate Investment
Varanasi continues to attract Shiva devotees and investors alike, with both residential and commercial properties seeing heightened interest. Improved connectivity and growing religious tourism are factors driving the city’s rising property prices.
Why Religious Cities Are Gaining Momentum
Several factors underpin this new trend:
- Religious tourism is seeing record growth, drawing lakhs of devotees annually.
- Enhanced highway, rail, and air connectivity makes these cities more accessible.
- Rising demand for retirement homes and second residences is fueling development.
- Branded developers from Delhi-NCR and other major cities are entering these markets.
- Government support and infrastructure projects are boosting investor confidence.
As spiritual hubs evolve into real estate hotspots, these cities are no longer just centres of faith, they are emerging as strong, high-return investment destinations.
November 18, 2025, 20:04 IST
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Business
Aviation upgrade: Aviation Minister K Rammohan Naidu says ATC systems under review; Delhi glitch probe to guide tech overhaul – The Times of India
Authorities are examining ways to strengthen air traffic control (ATC) systems after the technical snag at Delhi airport earlier this month disrupted operations and delayed more than 800 flights. Civil Aviation Minister K Rammohan Naidu said the incident has prompted a wider review of processes and technology at India’s busiest airport.Speaking on the sidelines of a conference on Tuesday, the minister noted that the investigation into the failure of the Automatic Message Switching System (AMSS), which supports ATC’s flight planning function, is still under way. “It will be known after a thorough investigation,” he said when asked if a cyber attack had been ruled out. He added that a detailed assessment has been initiated to identify the exact root cause.Naidu said the focus is now on enhancing the backbone of air navigation systems. “So, we are looking at how we have to improve our systems, meet the standards… (how to bring) future technologies into the ATC… we have asked them to let us know on what should be the way forward in terms of (whether they want) more upgraded technologies,” he said, according to PTI.The communication, navigation and surveillance (CNS) functions that support Air Navigation Services (ANS) and Air Traffic Management (ATM) are handled by the Airports Authority of India (AAI). Following the disruption on November 7, the minister had directed officials to conduct a root-cause analysis and put backup servers in place to reinforce operations.In a statement issued on November 8, the civil aviation ministry said the system had been restored by the afternoon owing to “the coordinated efforts of ECIL engineers, ATC personnel, and the ministry’s proactive monitoring”. It added that no flights were cancelled that day due to the issue.The Indira Gandhi International Airport (IGIA), which has four runways and manages over 1,500 daily flight movements, continues to operate normally as the probe into the November 7 disruption progresses.
Business
Budget 2026: Market Leaders Urge Govt To Reduce STT; What’s This, How Does It Impact Investors?
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Budget 2026: Market participants urge Finance Minister Nirmala Sitharaman to reduce the securities transaction tax (STT), especially on cash market transactions.
The Securities Transaction Tax (STT) is a tax levied on the purchase and sale of securities on recognised stock exchanges. (Photo Credit: Freepik)
Finance Minister Nirmala Sitharaman on Tuesday chaired the fourth pre-Budget consultation with the stakeholders from the capital markets to discuss the next Union Budget 2026-27. According to CNBC-TV18 citing sources, market participants urged the government to reduce the securities transaction tax (STT), especially on cash market transactions.
The industry also pushed for reforms in the buyback taxation, calling for the levy to apply only on the profit component of a buyback instead of the entire amount, according to the report. Steps to boost retail participation in the equities markets were also discussed, along with a proposal to raise retail ownership from the current 5% to 8% over time.
Union Minister for Finance & Corporate Affairs Smt. @nsitharaman chairs the fourth Pre-Budget Consultation with the stakeholders from the capital markets in connection with the forthcoming Union Budget 2026-27, in New Delhi, today.The meeting was also attended by Union… pic.twitter.com/RT5LmWZMrI
— Ministry of Finance (@FinMinIndia) November 18, 2025
What’s STT, And How Does It Impact Investors?
The Securities Transaction Tax (STT) is a tax levied on the purchase and sale of securities on recognised stock exchanges. Introduced in 2004, it applies to equity shares, derivatives, equity-oriented mutual fund units, and ETFs. The tax is collected upfront by the exchange and passed on to the government, making compliance automatic and eliminating the need for separate filing.
Current STT Rates, How STT Works
The rate of STT differs depending on the type of transaction:
- For equity delivery trades, STT is charged on both buy and sell sides.
- For intraday and derivatives, it is typically levied only on the sell side.
- Options attract STT on premium, while futures attract it on the contract value.
Because the tax is charged on every trade, the impact compounds for frequent traders and high-volume participants such as proprietary desks, HNIs, and institutions.
As of now, STT on cash-market delivery trades is 0.1 per cent on both the buy and sell side, which is Rs 100 per Rs 1 lakh of trade value when you buy, and another Rs 100 per Rs 1 lakh when you sell. Intraday equity trades attract STT of 0.025 per cent (Rs 25 per Rs 1 lakh) on the sell leg only. In the derivatives segment, the tax is 0.02 per cent on the sale value of equity futures (Rs 20 per Rs 1 lakh) and 0.1 per cent of the option premium on the sale of equity options; if an option is exercised, a separate STT is levied on the intrinsic value at settlement.
How Can Lower STT Benefit Investors?
STT directly raises the cost of trading. Even a small reduction benefits:
- Retail traders, by increasing net return on intraday and F&O trades.
- Derivatives markets, where margins are already tight and volumes are high.
- Liquidity, as lower trading costs can encourage participation.
In the run-up to Budget 2026, this has become a key demand from market leaders looking to keep transaction costs competitive.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
November 18, 2025, 17:54 IST
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Property Prices Have Surged 500% In These Religious Cities, NCR Realtors Enter The Market
Aviation upgrade: Aviation Minister K Rammohan Naidu says ATC systems under review; Delhi glitch probe to guide tech overhaul – The Times of India
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