Emmy-nominated Jimmy Kimmel calls $40M Colbert loss reports "nonsensical" and explains why he's voting for the late night host.

Kimmel defended Colbert against financial loss allegations, arguing media reports ignore hundreds of millions in affiliate fees when analyzing late-night show budgets.

Per sources, the purported financial problems that The Late Show has been experiencing are due to diminishing advertising revenue. It was reported by CNN that the late-night talk shows across all the major networks brought in $220 million,