[Smithy]

Simon Cowell has seemingly rubbished reports that he will be leaving the UK version of The X Factor this year.

Speaking on US talkshow Extra, the music mogul suggested that - contrary to recent reports - he is not intending to focus fully on the Fox launch in America and will be still involved with the ITV1 show.

"We're in the process of building a rocket and it is literally going to fly us from Los Angeles to London in an hour," he said. "It hasn't been tested yet but that's the idea."

Cowell is yet to announce the judging panel for either version, airing in conjunction this autumn, but there is talk that he may sacrifice the auditions stage of the British show.

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