Reports say that Nick Cannon is planning to sue ViacomCBS for $1.5 billion — which is the estimated value of his hit show Wild'n Out. As previously reported, ViacomCBS severed ties with Cannon following statements he made about the Jewish community.

 A member of Nick's team told The Shaderoom about the upcoming suit, “It is just that simple, ‘Wild’N Out belongs to Nick! The show was created by Nick Cannon with his idea and original thought. Wild’N Out has brought billions of dollars in revenue to Viacom since 2015. And Nick deserves and has earned everything it is worth.”

The source continued, “From the platforms he provides for other entertainers, the jobs he creates for black youth, the time he gives to mentoring incarcerated men and women, to the money he gives back and puts into communities, homelessness, and people less fortunate. He is constantly evolving both spiritually and mentally, as well as, taking action in learning, education and bridging the gap within the Jewish and African American communities, so that it will allow us to build relationships, work together and learn from each other in order to move forward in equality.”

Nick's team said that he plans to use the money from the suit to invest in better education in underserved communities, as well as creating psychological programs, youth organizations, and developing inner city communities.

The source added, “If Viacom believes in growth, equality, education, then Viacom will do what is right and pay Nick what they owe, and giving him his $1.5 brand.”