LOS ANGELES, Calif. -- Simon Cowell's "The X Factor" is America-bound, according to a new report.
Britain's Daily Mirror reported that television's Mr. Nasty is bringing his U.K. reality competition stateside in a deal with FOX worth an alleged $103 million.
Last week, The Hollywood Reporter claimed Simon and FOX were "hammering out a deal" to launch the show to America and the Mirror claims it is now a reality.
"Simon knew how much they needed him for 'Idol,' but there was no deal until they agreed to do 'X Factor,'" a source told the newspaper.
"It's been a long hard slog, but we got there," the source added.
The paper reported that Simon will announce the deal on October 7 at a party for his 50th birthday.
"The deal has virtually been done for the last two weeks, but there are still a couple of loose ends that need to be tied up," another source said.
A rep for FOX had no comment about the reported deal when contacted by Access Hollywood.
While "The X Factor" is a reality competition -- the very one that introduced Leona Lewis to the world -- it differs from "American Idol" in several ways.
Potential contenders - which can include groups -- audition in front of the judges and an audience, similar to the "America's Got Talent" try-out style.
Those put through are divided up into four categories - boys 16-24, girls 16-24, over 25s and groups. The show's four judges are then each assigned one section of the competition to mentor.
But it's still the public that votes on the winner.
In related news, according to the Hollywood Reporter, among the names being bandied about for judging posts on "The X Factor" stateside are British girl band singer Cheryl Cole and music manager Louis Walsh, who both judge the show on the other side of the pond.
Paula Abdul, who announced her departure from "Idol" over the summer, is also reportedly being considered.
A rep for Simon were not immediately available for comment when contacted by Access Hollywood.