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Simon Cowell has announced he’s quitting talent show AMERICAN IDOL when the new season ends in May (10). Speculation about the music mogul’s future on the show has been rife for months, with his brother Tony revealing a statement would be made in the early part of 2010 a month ago (Dec09).

He said, “A press statement is being prepared which will confirm what everybody expected: Simon will leave Idol at the end of 2010 to concentrate on bringing the American version of (U.K. talent show) X Factor to U.S. TV in 2011.”

And now Cowell has confirmed the news of his departure on the eve of the ninth series, which starts on Tuesday (12Jan09) in America.

In his statement, Cowell reveals he plans to launch his X Factor on U.S. TV in 2011.

The news of the departure comes just months after judge Paula Abdul quit the show over an alleged pay dispute in August (09). She has been replaced by chat show host Ellen DeGeneres. American Idol is the most watched TV show on U.S. TV.

Pop diva Madonna’s manager Guy Oseary is said to be the frontrunner to replace music mogul Simon Cowell on the “American Idol” judging panel. Oseary is said to be the favourite to succeed Cowell when he leaves the show after the current series, reports imdb.com.

Despite being the frontrunner, Oseary still faces competition from singer-and-actor Jamie Foxx and former Sony music boss Tommy Mottola, the ex-husband of Mariah Carey for the judge’s seat. “Guy has been in the music business since Madonna discovered him when he was 17, and he has a lot of the same experience as Simon.

His competition just can’t live up to his level of experience and the people behind the show are slowly starting to realise it,” said an industry source. Oseary who has made cameos in several films, including “Charlie’s Angels” and “You Don’t Mess With the Zohan”, and authored four books including “Jews Who Rock” is keen on the job because he wants to raise his public profile. “He thinks it would be great for his image. And it’s great exposure to boot,” said the source.