It has taken Simon Cowell and his team several months of intensive talks to work out a deal with ITV which will keep the X Factor and Britain's Got Talent on our screens for another three years.
The deal said to be worth up to £150million is expected to be confirmed at the Edinburgh TV Festival this week.
Sources told the Sunday People the X Factor return of old favourites Sharon Osbourne, Louis Walsh, Nicole Scherzinger and host Dermot O’Leary helped to seal the deal.
It is understood ITV will not be forking out more than for the current three-year contract.
Channel bosses are said to have “played hardball” to try to get both shows for millions less than they pay already – and to cover themselves with opt-out clauses.
But Cowell’s team dug their heels in. An insider close to the negotiations revealed: “Finally after months of intense talks, all sides are happy and the new deal has been agreed. It just has to be signed off.
“A formal announcement will be made shortly – hopefully in Edinburgh – as no one is expecting any major hitches. It’s planned to be the big show-stopping announcement of the festival.
“ X Factor ’s poor run last year when it was out-performed by Strictly came at a bad time with a new deal being due.
“But Simon has played a blinder by going back to basics and bringing back the old gang.” The continuing success of ratings-winner Britain’s Got Talent also strengthened his hand.
As part of the deal Simon is believed to have taken a cut in his own £25million three-year arrangement.
Cowell has insisted keeping the shows on air mattered more than his wallet, saying he wanted a deal “for the producers we hire and everyone else.”
X Factor returns this Saturday on ITV 8pm
