Simon Cowell signs £140 million X Factor deal with ITV
The show will continue to be broadcast on the channel for the next three years
The reality TV shows will continue to be broadcast on the channel until 2016, despite ratings falling from 19 million viewers in past years to around 10 million this series.
Ratings for the show began to suffer when Cowell left the British version as a judge in 2011 to launch the US version of the programme. He has been tipped to make a return next series.
According to The Times, the deal has been signed between Cowell's production company Syco?Entertainment and co-producers FremantleMedia UK. The last deal, signed in 2010, was reportedly worth £100 million.
A return to the British show will cast further doubts on the US version of The X Factor, which has also struggled to pull in many viewers and is reportedly close to being axed.
Cowell said in a statement: "I am thrilled that we have extended our deal with ITV for Britain’s Got Talent and The X Factor. They have been fantastic partners and we have some exciting new plans to take the shows to the next level."
Peter Fincham, ITV?director of television, told The Times: “Britain’s Got Talent and The X Factor are two of the most popular and most talked about shows on TV. They set the gold standard for entertainment production. We’re pleased to announce this deal which will see them continue to be an important part of ITV’s schedule."