Fox cancelled "The X Factor" after three seasons in February, but the network may revive the singing competition show for a fourth season to premiere next year.
Creator Simon Cowell may leave the judge's panel on "The X Factor" U.K. to re-launch the U.S. version next year, according to the Mirror. He previously left the British show in 2010 to start the American show.
"This is obviously fantastic news for Simon - all of the talks are going in the right direction for him to be back in America next year," a source told the Mirror.
"He loves the States and he loved the show. It was a huge disappointment when it wasn't recommissioned last year. He is enjoying his stint back in Britain but the fact is, this is great news for him and his team.
Executives at his company SYCOtv are nearing the "final stages of securing a deal," most likely with Fox. The staff offered a proposal, which was "well received," according to the source.
"A lot of work has gone into bringing the US X Factor back, so hopefully it will all now go ahead without any glitches," the source said. "Everyone is determined to make this work."
Cowell would sit on the judge's panel for the U.S. reboot. He plans to bring along Nicole Scherzinger, who sat on the U.K. panel for two seasons.
When "The X Factor" went off the air, Cowell judged the competitors with Demi Lovato, Kelly Rowland and Paulina Rubio. The latter two replaced L.A. Reid and Britney Spears at the table. The original panel consisted of Cowell, Reid, Scherzinger, and Paula Abdul, who co-judged with Cowell on "American Idol" for its first eight seasons.
"The X Factor" launched the careers of winners Melanie Amaro, Tate Stevens and Alex & Sierra. Fox's "Red Band Society" star Astro also started his career as a contestant on the first season of the show.
