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 spoke to Variety shortly after CBS parent company Paramount announced that Late Show would end in May, amid its Trump administration-sanctioned $8 billion merger with Skydance. Not long after that news was public, Puck reported that Colbert’s show left the company $40 million in the hole, year after year.

“The idea that Stephen Colbert’s show was losing $40 million a year is beyond nonsensical,” Kimmel insisted. “These alleged insiders who supposedly analyze the budgets of the shows—I don’t know who they are, but I do know they don’t know what they’re talking about.”

Kimmel went

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