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.”

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

While receiving a TV Academy Hall of Fame award, Conan O’Brien offered some thoughts about the state of late-night television.