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Q&A: Simon Cowell on His Search for 'X Factor' Talent and What He Thinks of 'American Idol'

4:16 PM PDT 3/27/2011 by Kim Masters

He also reacts to producers who say they're "glad" he isn't on "Idol" anymore; shares his thoughts on Mark Burnett's new singing competition, "The Voice"; and explains why the winner of "X Factor" will receive a whopping $5 million in cash.

Ten years after helping launch American Idol into a national pastime, Simon Cowell is again playing the role of underdog. He's back auditioning talent for a largely unknown singing competition -- although this time, when The X Factor premieres on Fox this fall, it will come with immense hype and expectations. Cowell, 51, spoke with Hollywood Reporter editor at large Kim Masters for a segment on her KCRW radio show, The Business. An edited transcript follows:

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