Jimmy Kimmel rejected claims Colbert’s Late Show loses CBS $40M yearly. –
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He told Variety the reports were “utterly ridiculous and unfounded.” –
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Kimmel said insiders misjudged program budgets and lacked knowledge. –
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He stressed critics ignored affiliate fees worth hundreds of millions. –
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Kimmel noted a share of those affiliate fees funds late-night shows. –
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CBS announced Colbert’s cancellation on July 18 citing financial reasons. –
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The network said it wasn’t tied to show performance or Paramount issues. –
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Puck News claimed the show had $100M+ budget and yearly $40M losses. –
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