L.A. Reid to Judge 'The X Factor' USA Season 2

American music mogul L.A. Reid has reportedly signed up to be a judge on the second series of the American version of "The X Factor."

The 55-year-old has reportedly signed a contract to reprise his position on the panel following the exit of fellow judges Paula Abdul and Nicole Scherzinger as well as host Steve Jones. The Epic Records chief was the one judge that audiences seemed to embrace.

Beyonce Knowles and Mariah Carey have both been talked about as possible new panelists on the Fox show, and boss Simon Cowell is believed to have offered the 'Single Ladies' hitmaker $500 million for five seasons on the program as he aims to beat rival show 'American Idol' in the ratings battle.