"There’s just not a snowball's chance in hell that that’s anywhere near accurate," Kimmel said of the reports Jimmy Kimmel called reports that Stephen Colbert's show was canceled due to an annual $40 million loss was "nonsensical" He also claimed that late-night television is not dying,

Late night talk shows in recent years haven't been quite as much of a staple of network television like in the days of David Letterman and Jay Leno, but CBS' move against "The Late Show with Stephen Colbert" will still come as a shock to many.

The Late Show with Stephen Colbert is on summer vacation, but not for much longer. The cancelled show is set to return from hiatus soon.