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Since then, dozens of advertisers have abandoned his show, and prominent Democrats including President Obama have denounced the remarks as inappropriate. Cain, who himself worked as a talk radio host, said that the advertiser pullout was unlikely to affect Limbaugh's show.

"[Advertisers] would have to make that call," Cain said. "I just know that advertisers make their decisions about who they want to support and not support, but I don't think it's going to hurt the Rush Limbaugh show."

On Wednesday, Cain also offered his appraisal of the GOP field post-Super Tuesday during an appearance on Fox News. Cain said Newt Gingrich, who he has endorsed, and Rick Santorum need to consider the delegate math when charting a path forward.

"[Romney] garnered about a third of the delegates, and so it becomes a numbers game,” Cain said. “Both Santorum and Gingrich have got to look at whether or not they have a plan B because it’s going to be very difficult for plan A, which is to win the nomination, to be realistic at this point.”