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.”

Jimmy Kimmel has defended Stephen Colbert after his show was canceled by CBS, saying there's 'no chance in hell' that The Late Show was losing $40M a year.