Cowell ‘signs $240 million contract’

Simon Cowell

Simon Cowell has reportedly agreed to a $240 million deal to keep The X Factor UK and Britain’s Got Talent on air for the next three years.

Under the terms of the new contract, Simon can return as a judge on both shows, and has also allegedly agreed to a deal where he guarantees to appear on at least one of them.

“Everyone wants to keep making The X Factor and BGT so it was just a case of ironing out the terms. Simon will do one show a year at least,” a source told UK newspaper The Sun.

Simon could also make extra money on top of the main deal, with a possible $24 million-plus in production fees if he does both UK shows, which is “very likely” according to sources.

The news comes as The X Factor US is apparently struggling with ratings. Just 3.6million viewers watched the singing competition last week, with a slight improvement of 5.7million on Wednesday night’s show.

Current judges on the X Factor UK are former Take That star Gary Barlow and Sharon Osbourne. As neither are likely to return, Olly Murs, Cheryl Cole and Dannii Minogue have all been tipped to replace them on the judging panel.

Ratings for the UK X Factor have dropped from 18 million viewers in 2010 to just 10 million in 2013.

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