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.”

He might have an invested stake in late-night TV enterprise, but Jimmy Kimmel doesn’t believe CBS and Paramount’s reason for canceling The Late Show With Stephen Colbert was a