Apparently, some have counter-argued that a $40M loss is a drop in the bucket for a billion-dollar corporation like Paramount. OTOH, borrowing from a 1960s Congress-Critter, $16M here, $40M there, pretty soon we're talking real money.
On top of the $40M, Colbert runs his mouth pretty freely, kind of like Step-in-awful-stuff did, to ABC's loss. IOW, Colbert's big mouth is a big lawsuit risk to Paramount/SeeBS.