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

Jimmy Kimmel slammed the “insider” report claiming Stephen Colbert’s Late Show was losing Paramount $40 million a year: “There’s just not a snowball’s chance in hell that that’s anywhere near accurate.

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