Nick Cannon has spoken out after if was announced that his talk show is ending after just one season. As reported by ET, The Nick Cannon Show will finish out its first season before wrapping up for good to make way for a new talk show hosted by acclaimed actress and singer Jennifer Hudson. Mort Marcus and Ira Bernstein, co-presidents of the show's producer-distributor and Lionsgate's Debmar-Mercury, confirmed the news with a statement.

"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," the statement reads. "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."

Addressing his viewers on Thursday's show, Cannon said, "It's interesting. This is show business and the biggest word is business. I show up each and every day, bright and early to give you a show, and I am also a businessman. 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."

Excited for the fans to still see what had been informed before the cancelation, Cannon added, "We still have more shows. This isn't the last show. We have a month of shows that's going to be on. This has been a blessing and dream come true. Thank you for letting me come into your homes."

Related: Kevin Hart Speaks Against Cancel Culture While Continuing to Defend Ellen and Nick Cannon

Nick Cannon Will Remain Busy

The Masked Singer Renewed for Season 5 on Fox

Enough episodes have been filmed of The Nick Cannon Show for it to finish out its first and only season, wrapping up this coming May. This week, the crew had been informed that they were working on their final episodes, which at least gives them all a chance to give each other their farewells. Meanwhile, Cannon remains the host of The Masked Singer and VH1's Wild 'N Out, so we haven't seen the last of him yet. As Cannon told his viewers, "I always have something coming!"

There have been other shakeups in the daytime television world lately. It was recently announced that The Wendy Williams Show is coming to an end this year and it will be succeeded by Sherri, hosted by Sherri Shepherd. Reportedly, The Real is also on the bubble and is facing the possibility of getting canceled as well, though Warner Bros. has denied these rumors. The Good Dish, which replaced The Dr. Oz Show in January, was also recently canceled. In the case of The Nick Cannon Show, it was due to low ratings as the lowest-rated single-host daytime talk show this season.