American Idol: Is Simon's 'X Factor' Deal Already A Reality?

The last we heard, Fox executives and American Idol producers are rumored to be planning to allow Simon Cowell to bring his singing talent show, The X Factor, to these shores so they can keep him as a judge on American Idol. Now, reports say it's going to happen.

That's according to British red top The Daily Mirror, who report that the deal to bring the successful British talent show that gave us Leona Lewis has been finalized, and is worth $103 million.

"Simon knew how much they needed him for Idol, but there was no deal until they agreed to do X Factor," a source told the newspaper. "It's been a long hard slog, but we got there."

"The deal has virtually been done for the last two weeks, but there are still a couple of loose ends that need to be tied up," another source said.

It is said that Simon will announce the deal next week, during a party celebrating his 50th birthday. Representatives for Fox and the television personality declined to give comment when asked by Access Hollywood.

The X Factor is a singing competition which Simon created and co-produces, and while it's similar to Idol, it differs by divided contestants into four categories--boys 16-24, girls 16-24, over 25s and groups--with the show's judges assigned to mentor one group each. A public vote determines who will win.

Simon's current contract with Fox bars him from bringing The X Factor to the United States. Another show that he created and produced, America's Got Talent, is currently part of the NBC summer line-up.

The Hollywood Reporter previously reported rumors that Simon, along with current X Factor judges Cheryl Cole and Louis Walsh, and former Idol judge Paula Abdul, might take the judges' seat on the American version.

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