REPORT: Simon Cowell's X Factor Heading To USA

Simon Cowell is about to become even richer as his hit Brit TV show, X Factor, heads Stateside.

British newspaper The Daily Mirror reports that the American Idol creator and co-host has hammered out a deal with Fox that is worth an estimated $103 million.

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

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It's reported that Cowell is set to announce the deal at a party for his 50th birthday on October 7th.

X Factor, the show that introduced Leona Lewis into the entertainment world, is similar to American Idol in that it's a reality competition, but that's where the similarities end.

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In X Factor contestants, who can compete as a group as well as solo, are placed into age specific sections once through the audition process and the show's judges are each assigned one section to mentor.

Like American Idol though, the public still gets the chance to pick the winner.

Paula Abdul, who was replaced by Ellen DeGeneres on Idol this season, is reportedly being considered for a judge spot.

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