Simon Cowell has reportedly signed a £100m deal to produce 'The X Factor' and 'Britain’s Got Talent' for another three years.
There was speculation that he would pull the plug on the show to launch a singing talent contest in the US next year.
However, the Daily Mail reports he has agreed a new deal which pays for the costs of three more series of ‘The X Factor’ and ‘Britain’s Got Talent’.
Cowell is also expected to sign a separate talent deal with ITV thought to be worth a further £20m over three years.
The £100m will be split between the TV judge’s company Syco and co-producers Talkback Thames.
‘The X Factor’ live shows cost about £1.5m per weekend.
‘Britain’s Got Talent’ will return to ITV1 in late spring next year, while ‘The X Factor’ will be back on screens next autumn.
There was a peak audience of 19.3million for 'The X Factor' final last year
“I am thrilled this deal has been concluded with ITV to enable our relationship to continue to develop,” said Cowell last night.
“I am committed to making sure both shows get bigger and better every year. I have a lot to thank ITV for.
“They have been key in making ‘The X Factor’ and ‘Britain’s Got Talent’ the UK’s biggest television shows.”
