The June 30 episode of "Cannon's Class", which was brought to notice by a Jewish blogger last week, featured a 90-minute interview between Cannon and former member of hip hop group Public Enemy, Richard Griffin, best known by his stage name Professor Griff.
In statement issued on Tuesday, the network said they condemn bigotry of any kind and categorically denounce all forms of anti-Semitism.
"We have spoken with Nick Cannon about an episode of his podcast 'Cannon's Class' on YouTube, which promoted hateful speech and spread anti-Semitic conspiracy theories.
"While we support ongoing education and dialogue in the fight against bigotry, we are deeply troubled that Nick has failed to acknowledge or apologize for perpetuating anti-Semitism, and we are terminating our relationship with him," ViacomCBS said in a statement obtained by Billboard.
Cannon backed "Wild 'n Out", a comedy improv series for VH1, a ViacomCBS-owned cable channel.
The company said they were committed to doing better in their response to incidents of anti-Semitism, racism, and bigotry.
Prior to his sacking, Cannon took to Twitter on Monday to respond to the criticism he was receiving online, saying he had neither hate nor malice in his heart.
"I do not condone hate speech nor the spread of hateful rhetoric. We are living in a time when it is more important than ever to promote unity and understanding," he said.
In a subsequent tweet, he described himself as an "advocate for people's voices to be heard openly, fairly and candidly"
"In today's conversation about anti-racism and social justice, I think we all including myself must continue educating one another & embrace uncomfortable conversations it's the only way we ALL get better," Cannon, who attended a protest over George Floyd's killing in Minnesota four days after the incident, said. RDS RDS