The 41-year-old's daytime talk show is filming two more episodes before wrapping its first season.
The Nick Cannon Show will not be getting a season 2. ET can confirm that the daytime talk show is finishing out its first season before wrapping for good.
On Thursday's show, Cannon addressed the cancellation, and the reports that his program was ending to make room for Jennifer Hudson's upcoming talk show.
"It's interesting. This is show business and the biggest word is business," he began. "I show up each and every day, bright and early to give you a show and I am also a business man This has been a dream come true. I want to expand and elevate. We ain't going nowhere but it's about broadening my audience. You have become my family. Thank you. We laugh together, we cry together, we pray together. I do what I can and we let God do what I can't."
Cannon assured viewers that the season isn't over yet. "We still have more shows. This isn't the last show. We have a month of shows that's going to be on," he noted. "This has been a blessing and dream come true. Thank you for letting me come into your homes."
As for what's next, Cannon added, "I always have something coming!"
In a statement to ET, Mort Marcus and Ira Bernstein, co-presidents of Nick Cannon producer-distributor and Lionsgate’s Debmar-Mercury, confirmed the cancellation of The Nick Cannon Show. "It’s never easy to cancel a production with clear potential, but, after a great deal of deliberation and examining various options, we have made the difficult business decision to end production on Nick Cannon," read their statement. "We plan to offer viewers original episodes of the daytime talk show through the remainder of this season. Our thanks go to the very talented Nick Cannon and our wonderful production team, and we wish Nick continued success with his many hit ventures."
Page Six was first to report the news, crediting the cancellation with low viewership and ratings.
According to Deadline, two episodes of the show are filming Thursday and the crew is being told that these will be the show's last. The program won't be going off the air right away as there are enough episodes filmed to take it through a full season, which is believed to end sometime in May.
Cannon has been extremely candid and personal on his talk show, sharing the news of his son Zen's death at age 5 months in December and his subsequent mental health journey.
He also opened up on the show about expecting his eighth child with Brie Tiesi in January.
In addition to his talk show, 41-year-old Cannon already has a busy schedule. He is also the host of The Masked Singer and VH1's Wild 'N Out.