Celebrity Gossip – Simon Cowell, the music mogul, really is serious about freeing up his schedule. Simon is reportedly set to quit his role as a judge on UK TV talent series the X Factor.

Cowell — who has spent five years on the hit show –  has made it clear to friends that the next season will be his last.

He is planning to join retail billionaire Sir Philip Green (man behind Topshop) to create and sell TV formats across the world. One of their first targets could be ITV.

“Nothing is off limits,” an insider told the UK’s Daily Mirror Thursday. “Simon has found X Factor increasingly draining and it leaves him little time for serious business.

“Now he’s decided this will be his last series and he’s moving on. In future, he will have a more overseeing role.”

Green and Cowell are said to be launching a huge “one-stop” entertainment company to rival anything the big Hollywood studios can come up with.

“This is a very big play by two colorful individuals,” a source said. “They are already a fearsome pair individually. Put them together and that’s a tough room.

“Simon is very ambitious and is the creative force. Sir Philip is the one who will bang the table and get the deals done.”