The Walt Disney Company shed billions in market value in the days after ABC suspended late-night host Jimmy Kimmel, but the widely shared claim that Disney lost nearly $4 billion “overnight” is overstated, according to market data and independent fact-checking. Snopes assessed the viral figure and concluded that Disney’s market capitalization fell by about $1.4 billion between the close immediately preceding the suspension decision and the next trading session — a significant move, but well short of $4 billion “overnight.” Over subsequent sessions, the decline deepened before the company announced Kimmel’s return to air, by which point coverage from multiple outlets put the cumulative drop at roughly $5 billion.
ABC, owned by Disney, pulled “Jimmy Kimmel Live!” from its schedule on Wednesday, September 17, after Kimmel’s monologue earlier that week criticized the way supporters of former President Donald Trump responded to the assassination of conservative activist Charlie Kirk. In reinstating the program on Monday, September 22, Disney said the suspension had been imposed “to avoid further inflaming a tense situation at an emotional moment for our country,” and called Kimmel’s remarks “ill-timed and thus insensitive.” The company stopped short of an apology, and said the reversal followed “thoughtful conversations with Jimmy.”
Trading in Disney shares reflected the controversy’s momentum rather than a single-session shock. Snopes’ review found a roughly $1.4 billion reduction in market capitalization “overnight,” based on the immediate change in share price. That figure is materially lower than viral posts claiming a $3.9–$4.0 billion collapse in a single night. By early Tuesday following the suspension, Al Jazeera reported Disney’s stock had fallen 2.39% from September 17 levels, wiping out about $4.99 billion in market value — a multi-day drawdown, not an overnight one. The distinction matters in parsing what the suspension did to Disney stock and when. Jimmy Kimmel calls out Donald Trump for trying to shut down his show
“He tried his best to cancel me. Instead he forced millions of people to watch the show. That backfired bigly. He might have to release the Epstein files to distract us from this now … Our leader celebrates… pic.twitter.com/Uo05vqTqRq — Culture Crave 🍿 (@CultureCrave) September 24, 2025