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(sr.com)With MTV’s, VH1’s and BET’s minimized music programming, the rising mogul Nick Cannon saw a void and jumped on the opportunity to fill it.

Sources are saying that Nick Cannon has purchased the rights in a multi-million dollar deal for the classic Soul Train franchise and plans on revamping the show for a modern twist to bring music (especially soul music) back to television. Reportedly, the deal is so huge that the source says Nick “now owns everything but Don Cornelius’ remains."

No official announcement has been made, but Cannon is a media mogul who has ties with Teen Nick, MTV and NBC…the idea isn’t so far-fetched.

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