Report: Simon Cowell Reaches New ‘Idol’ Deal

Paula Abdul may have given up her spot on the “American Idol” judges panel, but her cantankerous co-critic, Simon Cowell, is reportedly staying put.

The Hollywood Reporter got word that the witty Brit will continue on the competitive singing program for at least three more seasons.

However, a full plate hasn’t slowed his appetite. CFX, the parent company of “Idol’s” production company, 19 Entertainment, has revealed that Cowell has a FOX reality show in the works.

Cowell had hinted at the possibility of leaving the show when his contract ran out. His contract is up in the spring of 2010.

Should he not resign, leaving could free Simon up to form new network ties.

However, if he renews with 19 and CKX, he’ll likely rake in the bucks – reportedly even possibly going from making $36 million to making $45 million a year.

FOX declined comment to The Hollywood Reporter regarding Simon’s proposed salary.

“We’ve heard from Fox, who has asked us for approval for Simon Cowell to appear for three more years on Idol,” remarked CKX Chief Operating Officer Robert Sillerman.

“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.”