Nick Cannon says he was "shaken to his core" and seriously questioned his value as an entertainer, and that led him to the decision to quit "America's Got Talent."
Insiders say that Nick was devastated when he learned NBC was on the verge of firing him as the show’s host.
Nick looked at the long history of entertainers who were allowed to trash their networks right on their shows, including Johnny Carson, Jay Leno, David Letterman and many others.
Cannon says he was threatened with termination when he went on Showtime and made a few "harmless comments about NBC."
Nick also pointed a comment Tracy Morgan made during a show, when he suggested he might knife his son if he found out he was gay.
NBC execs defended Morgan. The insiders say that Nick also took into account losing his salary of around $4.5 million a season for 'AGT' before he made the decision to quit.
They say that he decided in the end that he believed in himself and was undervalued by the network.