Hot on the heels of the announcement that Simon Cowell will be returning to the UK version of The X Factor, Fox has announced that the USA version of the talent show created by Cowell has been canceled.

According to The Daily Mail, the executives at Fox made the decision to cancel the show because "there is no X Factor without Simon." This, combined with the fact that the third season of X Factor has seen a ratings plummet in the double digits, made the cancelation come that much quicker.

In addition, according to Deadline.com, Simon has issued a statement talking about the cancelation of X Factor, and he doesn't seem too distraught about it. "I've had a fantastic time over the last 12 years, both on The X Factor and American Idol," Cowell said. "And apart from being lucky enough to find some amazing talent on the shows, I have always had an incredible welcome from the American public (most of the time!). Last year, for a number of reasons, I had to make a decision to return to the UK version of The X Factor in 2014. So for now, I'm back to the UK and I want to thank Fox for being an incredible partner and I also want to thank everybody who has supported my shows. America, I'll see you soon!"

The report further goes on to say that Simon isn't retiring from American television altogether -- he is still the executive producer of America's Got Talent -- but, at least for a year, Simon's presence on US television will be limited.

The X Factor is a television music competition franchise created by Simon Cowell. It originated in the United Kingdom, where it was devised as a replacement for Pop Idol. It is now held in various countries. The contestants are aspiring pop singers drawn from public competitive auditions. The programs are produced by executive producer Simon Cowell and his company SYCOtv. The X Factor of the title refers to the undefinable "something" that makes for star quality. The prize is usually a recording contract, in addition to the publicity that appearance in the later stages of the show itself generates, not only for the winner but also for other highly ranked contestants.