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Report: Brandon Mychal Smith to replace Nick Cannon on "AGT "

Byron Cohen/FX(LOS ANGELES) -- Actor Brandon Mychal Smith has reportedly been chosen to replace Nick Cannon as the host of America's Got Talent after negotiations with Marlon Wayans fell apart.

A source tells TMZ that Smith, who was reported to be one of the top three hosting contenders for AGT, is set to sign on as AGT host within the next few days. According to the site, Marlon was the show's first choice, but the actor-comedian reportedly wanted more money than the network was willing to pay.

Smith, who stars as Sam Dresden on the FX's comedy You're the Worst, is said to be a more cost-effective and conservative choice for the network than Marlon, who has, "an extremely strong brand independent of the show."

As previously reported, Cannon announced on Facebook last month he was leaving AGT after the network reportedly threatened to fire him over a racial joke made during his Showtime comedy special, Stand Up, Don't Shoot.

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