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`The X Factor’ winner to get $5 million contract

- Associated Press - Monday, February 7, 2011

NEW YORK (AP) - The winner of Simon Cowell's upcoming game show on Fox will get a $5 million record deal. Fox says it believes that's the biggest guaranteed prize in television history.

"The X Factor" is due to premiere on Fox next fall. Cowell left "American Idol" in part to concentrate on the new show, which has been a successful format in several countries since its debut in Britain in 2004.

The winner of the inaugural American edition gets a recording contract with Syco, a joint venture between Cowell and Sony Music.

Cowell will be an on-air participant in "The X Factor," which Fox advertised on Sunday's Super Bowl. Other judges have not been announced.

Fox said Monday that auditions for contestants begin March 27 in Los Angeles, with other sessions following in the Chicago, Dallas, Miami, Seattle and New York areas.

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Fox is a unit of News Corp.

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