"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,

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.

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