That seems correct to me as well, but is it really?

I think they're making an argument related to misinformation / lying about a crime, which apparently is against the terms of ABC's broadcast license. I'm evidently not a lawyer.

They threatened local affiliates' licenses if they didn't pull the show, which isn't making a formal complaint against ABC for misinformation. I'm obviously not a lawyer but nothing about the FCC making informal threats to coerce self censorship seems remotely legal, beyond the fact Kimmel obviously didn't lie about anything