U.K.'s ITV Close to Renewing Simon Cowell's 'X Factor,' 'Britain's Got Talent' (Report)

Simon Cowell

The TV networks company has been working on an extension and is looking for a three-year deal.

LONDON – U.K. TV networks giant ITV is closing in on a three-year renewal of Simon Cowell's The X Factor and Britain’s Got Talent, Broadcast magazine reported.

Executives from the broadcaster have previously said they hope to extend the shows beyond the current year and have signaled a deal could come by year's end. Financial details weren't immediately clear.

PHOTOS: Inside Simon Cowell's 'X Factor' Trailer (Exclusive)

ITV and production firms Syco Entertainment and FremantleMedia's Thames could announce the deal, to which they have agreed in principle, some time in November, Broadcast said. And they said it could open the door for Cowell to return to The X Factor under certain circumstances. The star has focused on appearing on BGT, while having an on-air role on the U.S. version of the X Factor.

ITV and Syco declined to comment.

The current 10th season of X Factor in the U.K. has drawn mixed ratings amid strong competition from BBC hit Dancing With the Stars. But the show's average consolidated audience of more than 10 million continues to make it one of ITV’s biggest hits with audiences and advertisers. BGT ended its seventh season earlier this year with strong ratings.

ITV director of TV Peter Fincham in late summer said the two hit shows eyed for renewal have more years in them.

"I'm not in any way calling time on the existing big entertainment formats," he said. "Britain's Got Talent has been in exceptionally good health," and X Factor potentially has "many years" left in it. 

E-mail: Georg.Szalai@THR.com
Twitter: @georgszalai