The title of this episode is in reference to the American news program "60 Minutes", which is "the oldest and most watched newsmagazine on television", having been on the air since 1968. Presumably, the reason the show is in reference to this program is due to the Interdimensional Cable programs all being different from each other, like the individual segments on a news channel. See more
It's "Saturday Night Live"! Starring a piece of toast, two guys with handlebar mustaches, a man painted silver who makes robot noises, Garmanarar, three s- eh- bl- um- uh- uh- uh- I'll get back to that one, a hole in the wall where the men can see it all, and returning for his twenty-fifth consecutive year, Bobby Moynihan!
Interesting fun fact: uh, Moynihan and Piece of Toast hate each other. Apparently they've got some real creative differences,