The Hollywood Reporter reveals that American Idol's contract will be extended after this season - Cowell's last. Reportedly, on an investor call yesterday, Chairman and CEO of CKX Entertainment Robert Sillerman (owner of 19 Entertainment that produces Idol), confirmed that by the end of the month the contract extension would be in place.
"As talented as Cowell is...'Idol's' future with this long-term extension is guaranteed," said Sillerman, allegedly.
Selling Idol is not out the question for Sillerman, however, as he reportedly told his shareholders: "we have to consider everything."
To read the full report in The Hollywood Reporter, click here.
As previously announced, Cowell chose to leave American Idol simply because he wanted something new, and will be brining The X Factor to FOX in early 2011.
The X Factor is currently shown in 17 countries worldwide with a global audience of more than 500 million, and is the No. 1 TV entertainment format in Europe. Cowell will continue to serve as both executive producer and judge on the U.K. version. The X Factor format is owned by Syco, a global music, television and film production joint venture between Cowell and Sony Music Entertainment.
Cowell also executive produces America's Got Talent and judges and produces Britain's Got Talent, which in 2009 launched the global singing career of Susan Boyle. Her debut Syco album sold over 8 million units in six weeks, making it the world's biggest-selling album of 2009 and the fastest-selling album in history.