This just in from the NY Post
important parts bolded for the tl;dr crowd.
Simon Cowell could be leaving "American Idol" at the end of the season and starring in an American version of his British hit music show, "X Factor," starting in 2011, according to reports.
Cowell, whose "Idol" contract expires in May and who has been in talks with Fox since last summer, is preparing to announce the new arrangement with Fox early next year, the Times Of London reports.
The future of "Idol" would be thrown into serious doubt if the show's indisputable star leaves, it would appear.
Officials from Fox, "Idol" and Cowell's own company yesterday refused comment.
"X Factor" is produced by Cowell, who's also a judge on the show just like on "Idol."
Unlike "Idol," however, Cowell and two other judges help mentor the "X Factor" contestants.
Viewers vote on which singers stay or go -- but the aspect of judges competing against each other adds a new twist to the "Idol" formula.
Since its debut four years ago, "X Factor" is by far the most popular show in Britain. Last Saturday night, the finale episode of the latest season practically brought the country to a standstill.
It drew an audience of over 19 million people, in a nation where 10 million viewers is considered a runaway hit.
The report in yesterday's Times of London said Cowell is "considering" stepping down from "Idol" to do a US version of "X Factor" -- and that he told this to Fox entertainment chief Peter Rice at a meeting in London six weeks ago.
Fox apparently would broadcast "X Factor" here -- which means the network would either have to end "Idol" or broadcast both series at different times of the year.
"Among the judges, Simon is first among equals," says industry analyst John Rash.
"His absence would be keenly felt, but it wouldn't mean the end of the franchise."
While not naming a specific network, Cowell told a BBC interviewer that he definitely plans to launch the show in the US.
"It has to go to America. There has to be an American version of the show," he said.
"To not take 'The X Factor' to the biggest market in the world would be crazy."
ANALYSIS
Enjoy the new season of "Idol" because it will probably be the last.
No one in charge of the show -- or of the network that airs it, Fox -- is saying that.
But if reports that Simon Cowell will end his run on "Idol" after this season and bring his monster Brit hit "X Factor" to the US in 2011 are true, then it's curtains for the TV show that defined the decade.
Given the choice between an "Idol" with no Cowell and a remarkably similar show called "X Factor" that will be hosted by Simon, you can bet Ryan Seacrest's life that Fox will follow the bouncing Brit.
Safe to say Fox won't even try to replace Simon on "Idol."
Much simpler to kill the series now -- before it becomes self-parody. Replace it with Simon and "X Factor," a smart, second-generation version of "Idol" where the judges pick the singers and put themselves on the line by coaching them.
"X Factor" is hugely popular in Britain -- in no small part because Cowell runs it, lock, stock and barrel. (Though "Idol" pays him a staggering $35 million a year, Simon is still technically an employee.)
The end of "Idol" will not be pretty. Millions of people are emotionally invested in the show.
Cue the music: "So you had a bad day . . ." -- Michael Shain
source DO. NOT. WANT.