'The X Factor' is to be revived by Channel 5.
Simon Cowell is reportedly struck a deal with the network to bring back the singing competition - which ran for 15 series and two spin-offs on ITV from 2004 to 2019 - after taking "lots of meetings" with a number of different TV channels.
A source told the Daily Star Sunday newspaper: “As soon as 'X Factor' was up for grabs, there was interest from a number of the networks.
“'X Factor' is one of the most iconic shows in TV history, so it’s no surprise lots of channels were keen. The production company had their pick.
“After a lot of meetings, execs decided to go with Channel 5.”
Channel 5 executives are said to be "thrilled" to have landed the show, which is likely to begin production later this year and return to TV in 2023.
A source said: “There’s a good chance it will become Channel 5’s most-watched show.”
Producers are planning to overhaul the format and give the show a "fresh start".
An insider added: “This is the start of a new chapter for 'X Factor'. Moving to a new channel gives the creative team a chance to completely revamp the format and do something different.”
It was previously claimed Simon plans to strip 'The X Factor' back to basics in the hope of trying to "recapture the magic" of when it first aired.
The source explained last month: “It has been decided that the time is right to bring X Factor back. It’s really exciting. Everyone who will be working on the new series can’t wait to get started.
"Producers want to recapture the magic the show had when it was first on TV.
“The focus will all be on the competition element of the show, rather than the razzle dazzle.”