Simon Cowell will be a judge on American Idol for at least three more seasons.
Via Hollywood Reporter:
During the second-quarter earnings call of CKX, parent company of “Idol” co-producer 19 Entertainment, CKX chairman and CEO Robert Sillerman indicated that Cowell is finalizing a deal with Fox to continue on the top-rated reality show.
“We’ve heard from Fox, who has asked us for approval for Simon Cowell to appear for three more years on ‘Idol, ‘ ” Sillerman said. “They, in their negotiations with Cowell, have asked us to pre-approve him not only for ‘American Idol’ ’09, which has begun taping, but they have also asked us for approval for ’10 and ’11, indicating to us that they’re finishing their negotiation with Cowell. We did grant approval for that quite obviously.”
Sillerman didn’t mention any financials of Cowell’s deal with Fox, but the uber-judge reportedly is poised to earn $45 million under the new pact, up from $36 million a year under his current contract.
The terms must be massive–not only big money, but the opportunity for Simon to produce shows for Fox. Rumor has it the terms of his deal will allow Fox to produce his UK hit X Factor here in America.
In the meantime, the search for a new judge to replace Paula Abdul continues. When hiring a new judge, 19 and co-producer FremantleMedia will propose their choices to Fox, which will sign off. Fox pays the judges’ salaries, according to Sillerman.