While showing his support for Stephen Colbert, Jimmy Kimmel slammed the insinuation that 'The Late Show' was 'losing $40 million a year'

A month after Colbert announced that The Late Show will be ending after 10 seasons as its host, reports emerged that it had been losing $40 million annually. During a recent interview with Variety, Kimmel, 47, shut down those claims, calling them “beyond nonsensical.”

The late night host said the "alleged insiders" simply "don’t know what they’re talking about" when it comes to Stephen Colbert's program.