Sources confirm to Hollywood Reporter exclusively that Cowell will quit the top-rated show on television at the end of this season as part of his plan to focus on launching a new series, “The X-Factor.” Fox has picked up “Factor” for the fall of 2011, when “Idol” is on hiatus.
Fox chairman Peter Rice and entertainment president Kevin Reilly are expected to announce the “Factor” pickup and Cowell’s “Idol” departure today at the Television Critics Association’s winter press tour in Pasadena.
The U.S. version of “X-Factor” will be a similar format to the UK version, with Cowell acting as judge and executive producer.
Full story: Fox gets ‘X-Factor,’ Cowell quitting ‘Idol’ – THR