Producers have pulled the plug on Nick Cannon’s daytime talk show. The multi-talented entertainer took the time to address the news during a “Rumor Report” segment with Angela Yee this week.

“Last night we saw the news that the ‘Nick Cannon Show’ is canceled,” Yee says. “So, I want to hear from you exactly what happened, because we hear the reports. People are saying it was because of ratings, it’s because Jennifer Hudson is coming; it’s because of so many different things…”

“This is show business, right? And we know the biggest word in that is ‘business,’ and this is a business,” Cannon replied. “As a businessman, I know that as much fun as we have on the show, business is the thing that makes this whole thing tick and operate.

“Honestly, I show up each and every day, bright and early, to give you a show, but I’m also a businessman, and you understand when there’s certain forms and certain platforms. This has been a dream come true for me to be able to do this for you each and every day, but my business mind, I want to expand and elevate in a way, so I’mma still be here, I’mma still do this. We ain’t going nowhere but it’s about broadening my audience and really tapping into my audience in a big way.”

The “Wild ‘N Out” creator went on to thank his crew, calling them “family” and the best he’s ever dealt with. “It’s truly been a blessing and this has been a dream come true and thank you all for allowing me to have my dreams and come into your home,” Cannon said.

As previously reported by REVOLT, the staff at “The Nick Cannon Show” were informed on Thursday morning (March 9) that the show would not be renewed for a second season. Variety reported that the production for the show has concluded, however, the remainder of season one’s pre-taped episodes will continue to air through May.

The 41-year-old, who also hosts FOX’s “The Masked Singer” and “Wild N’ Out” launched his eponymous talk show in September 2021.

Check out Nick’s comments on the matter below: