Simon Cowell has reportedly signed a £120 million deal with ITV to deliver Britain's Got Talent and The X Factor to the channel until 2013.

Under the agreement Cowell is allegedly receiving £100 million for the shows, plus a reported £20 million for personal appearances.

ITV2 will also show the American version of X Factor and America's Got Talent.

Cowell has reportedly agreed to return as a judge on both shows, but it is uncertain who the other judges will be.

Next year's X Factor is expected to run at the same time as the US version, which may result in the media mogul flying back and forth to the states every week, so as not to miss any live shows.