According to Daily Bullsheet:
Simon Cowell yesterday finally confirmed the rumors that he’ll be leaving American Idol after this season. As expected, Cowell will depart Idol in order to focus on bringing his UK show The X Factor to Fox in fall, 2011. “We did talk about me staying on both shows but when we looked at the practicalities of that, it was impossible,” Cowell told the press. “I was offered a lot of money to stay on. But that wasn’t the reason behind it. I wanted to do something different. I wanted a new challenge.” Cowell wouldn’t discuss who he wants joining him on The X Factor judging panel, but TMZ reports he’s having discussions with former Idol judge Paula Abdul about coming on board.