Music mogul Antonio "L.A." Reid is reportedly leaving his position as chairman of Island Def Jam to take on the role of judge for Simon Cowell's upcoming show, The X Factor. Reid is the first judge to be confirmed.

The show will begin airing on Fox in September, and Cowell has raised the bar, offering the winner not only a recording contract with Sony Music, but also a $5 million prize, which will be the biggest prize ever given by a TV show. Speculators are already predicting that Reid's next move may be a job with Sony Music.