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Simon Cowell's 'X Factor' to give winner $5-million record deal

February 7, 2011 |  7:08 am

Simon Cowell's new music talent show, which got its first national exposure with a spot during Fox's coverage of the Super Bowl, will provide the winner with a $5-million record deal, the network announced Monday.

Auditions for the show, which premieres this fall, will start at the end of March. The record deal will be through Cowell's company Syco and Sony Music.

"We are going to put our money where our mouths are with the $5-million recording contract," Cowell said in a statement.

"I have no doubt 'The X Factor' will find winners worthy of international acclaim and career longevity, and believe with Sony's worldwide effort, the winners' potential can be unlimited," said Sony CEO Howard Stringer.

Cowell and Fox and the show's producers at FreemantleMedia North America have already struck a wide-ranging sponsorship deal with Pepsi. Cowell still hasn't announced who his other judges are. Hey, Ellen DeGeneres is available.

-- Joe Flint