29/02/2016 07:36 GMT | Updated 29/02/2016 08:59 GMT

'X Factor' And 'Britain's Got Talent' To Be 'Renewed For Three More Years' In ITV Deal

Rumours that ‘The X Factor’ will be axed after the next series have been silenced, with reports the show will be renewed for three more years.

The Sun claims that ITV is poised to sign a new deal to keep the show on air until 2019, along with sister show ‘Britain’s Got Talent’, despite its falling ratings.

simon cowell x factor

'X Factor' boss Simon Cowell

A source told the paper that the deal should be finalised by May, adding: “This was always going to be a joint deal - [Simon] Cowell, ‘Britain’s Got Talent’ and ‘The X Factor’ come as a package.

“But a new three-year deal will be a huge relief to Cowell because it gives both shows a real sense of stability into the future.

“It will also end the constant rumours that ‘The X Factor’ is going to be axed.”

An ITV spokesperson backed up the reports, claiming that they “fully intend to continue with both shows into 2017 and beyond”.

It had been thought that The Voice’s arrival on ITV in 2017 could spell the end for ‘The X Factor’.

However, one of the 'X Factor' executive producers, Richard Holloway, has said that the show could run and run, like ‘Coronation Street’.

“I suppose the best way to show the enduring success of ‘The X Factor’ is to look at the interest levels in it,” he said.

“We are still six months away from going on air this year and already the show is dominating the entertainment agenda. Everyone has a view on ‘The X Factor’.

“The X Factor is part of the fabric of the nation, like ‘Coronation Street’. In terms of judges and presenters, people come in and people go out of the show - as they do in ‘Corrie’.”

New reports claim that Louis Walsh is also set to return to the show, after Nick Grimshaw announced his departure earlier this month.

simon cowell louis walsh

Louis Walsh is also poised to return

The former judge, who was axed last year as part of a shake-up, has apparently already held talks about his return - worth to be a rumoured £800,000 - with Simon.

"Simon and Louis work really well together. He provides a perfect foil for Simon,” a source told The Mirror.

"They’ve had a couple of phone conversations and it’s looking as if a deal will be done, although no paperwork has yet been signed."

Louis himself added that he would “absolutely” go back to the show if asked.

“If he wants the dream team then he gets me, him, Sharon Osbourne and either Mel B or Nicole Scherzinger,” he said.

“I’ve had a year off and it’s been great. But I used to watch it and ring Simon after and tell him exactly what I thought was wrong with the show. He used to hate it.

“Simon needs to make a lot of changes, but he knows this.”

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