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.”

While receiving a TV Academy Hall of Fame award, Conan O’Brien offered some thoughts about the state of late-night television.

Conan O’Brien said that late-night shows will eventually "disappear," but hosts like Stephen Colbert are "too talented and too essential to go away."