Cohen, who was progressively getting drunker throughout the broadcast alongside co-host Anderson Cooper, was reacting to a giant cloud of smoke that emerged as Journey was performing onstage for ABC's "New Year's Rockin' Eve," which was hosted by Ryan Seacrest.
"There's a bunch of smoke coming from Ryan Seacrest's group of losers that are performing behind us," Cohen told viewers, causing Cooper to chuckle. "I mean, with all due — if you’ve been watching ABC tonight, you’ve seen nothing. I’m sorry, but it's true."
CNN has since addressed Cohen's jab at the network competitor, telling E! News, "Andy said something he shouldn't have on live tv. We've addressed it with him and look forward to having him back again next year."
Cohen also expressed regret about the comment on his SiriusXM radio show.
"The only thing that I regret saying, the only thing is that I slammed the ABC broadcast and I really like Ryan Seacrest and he's a great guy and I really regret saying that," Cohen said on Monday. "And I was just stupid and drunk and feeling it. And it was… I was continuing the Journey rant and I just kept talking and I shouldn't have, and I… I felt bad about that. So that is the only thing. It's the only thing."
CNN tapped the Bravo star as co-host of its New Year's Eve broadcast in 2017 after firing comedian Kathy Griffin from the gig for her photo shoot using a prop depicting then-President Trump's bloodied severed head.
Cohen went viral in the early hours of 2022 for his rant bashing outgoing New York City Mayor Bill de Blasio.
"The only thing that Democrats and Republicans can agree on is what a horrible mayor he has been. So sayonara sucker! 2022! It’s a new year, because guess what? I have a feeling I’m going to be standing right here next year, and you know who I’m not going to be looking at, dancing as the city comes apart? You!" Cohen rambled.
Cooper appeared alternately amused and uncomfortable as he attempted several times to stop Cohen from going off, and some observers who typically criticize CNN found it to be a breath of fresh air.
Others slammed the liberal network for allowing Cohen's drunken behavior.
Fox News' Brian Flood contributed to this report.