Nick Cannon Reacts to Talk Show Cancelation ... on Now-Canceled Show

The host addressed the news during his daily Rumor Report alongside Angela Lee, who asked what was going on with the future of the show and brought up the cancelation due to low ratings. According to THR, the show averaged around 568K daily viewers -- in stark comparison to the top talk shows, which have an audience of more than 2 million.

"This is show business, right? And we know the biggest word in that is 'business', and this is a business," he explained. "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," he continued. "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."

"I'm gonna still be here, I'm still gonna do this. I ain't going nowhere, but it's about broadening my audience and really tapping into my audience in a big way," added Cannon.

THR reported Thursday was actually the final day of production, ahead of a pre-planned five-week hiatus during which pre-recorded episodes will air.

"What this has shown me over the last six months, together, you guys have really become my family. This is the best working crew, best audience I've ever dealt with. I've gotta say thank you on live TV in a big way," he went on. "We laughed together, we cried together, we prayed together. And like I always say, 'I'm here to do what I can and let God do what I can't.'"

"This ain't over, we still got more shows. This is not the last show. We got a month of shows that's gonna be on," he concluded, adding that he's "excited to be part of a business where I get to try so many things. 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."

Of course, Cannon's not totally out of work, as he'll continue to host "The Masked Singer" on Fox.