Looks like the talent shows are here to stay for a while longer. Reality TV shows X Factor and Britain’s Got Talent are set to stay until at least 2016, with TV mogul Simon Cowell signing a whopping £150 million deal to keep them on-air. “We have some exciting new plans to take the shows to the next level,” he said, while stating that he was “thrilled” that the shows are extending their run. However, Cowell hasn’t announced the judging panel yet and his potential return to the UK series could see a rise in ratings considering Gary Barlow is soon to leave the show and Louis Walsh has said that he’s considering parting ways as well. The US version of The X Factor has seen a significant dip in audience figures and may be getting the axe. "Britain's Got Talent and The X Factor are two of the most popular and most talked about shows on TV" said ITV director of television, Peter Fincham. "They set the gold standard for entertainment production. We're pleased to announce this deal which will see them continue to be an important part of ITV's schedule."