"There’s just not a snowball's chance in hell that that’s anywhere near accurate," Kimmel said of the reports Jimmy Kimmel called reports that Stephen Colbert's show was canceled due to an annual $40 million loss was "nonsensical" He also claimed that late-night television is not dying,

Per sources, the purported financial problems that The Late Show has been experiencing are due to diminishing advertising revenue. It was reported by CNN that the late-night talk shows across all the major networks brought in $220 million,

While showing his support for Stephen Colbert, Jimmy Kimmel slammed the insinuation that The Late Show was "losing $40 million a year" before it was canceled. Kimmel, 57, called those reports "beyond nonsensical,