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.

A month after Colbert announced that The Late Show will be ending after 10 seasons as its host, reports emerged that it had been losing $40 million annually. During a recent interview with Variety, Kimmel, 47, shut down those claims, calling them “beyond nonsensical.”

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.