Simon Cowell will reportedly take a pay cut when he signs his shows with ITV.

Simon Cowell

Simon Cowell

The 56-year-old music mogul is hoping to secure a new three-year deal with the broadcaster and is said to be doing all he can to ensure 'The X Factor' and 'Britain's Got Talent' stays on air until at least the end of 2019.

Asked about the possibility of taking a pay cut himself, Simon said: "We are all in that boat, aren't we? That's the way life goes. It is nothing I am particularly worried about, to be honest. I am more keen we settle the shows for the producers we hire and everyone else.

"We want to give everyone the reassurance that we are going to have another three years guaranteed, which is always nice news to tell the team because they have been with us a long time. Overall I am happy. I always feel we are in a fortunate position because we have two shows that have been on air for a long, long time now.

"Even though the numbers fluctuate, when you look at what everyone else is doing, they have held up incredibly well. Both shows have got passionate audiences, particularly 'X Factor'. It also brings in younger viewers and the advertisers love it."

And Simon has hit back at rumours 'The Voice', which aired on rival channel BBC for five years until last month, was taken on by ITV to replace one of his shows.

He added to the Daily Mirror newspaper: "There was speculation before that 'The Voice' might replace us on ITV but we were given the assurance from Day One that it would never happen. We were never feeling insecure about it, plus we had lots of offers from other people to buy the shows - so we were in a good position."

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