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It looks like Island Def Jam chairman Antonio “L.A.” Reid will join the cast of Simon Cowell’s new FOX singing competition ‘The X Factor,’ according to The Hollywood Reporter.

THR’s sources say Reid’s participation as a judge is “a done deal” and that an official announcement will hit later this week.

Reid has a contract with Universal Music until December, but would get released early to join ‘The X Factor.’ Auditions for the show kick off March 27 in LA.

The winner will score a $5 million recording contract with Sony Music.

Cowell is the only judge thus far. How he’ll flesh out his table with three more judges has been a hot topic lately. Cowell recently told ‘Access Hollywood Live’ he was considering George Michael, Nicole Scherzinger, Mariah Carey and former ‘American Idol’ co-judge Paula Abdul. He also said that Elton John is absolutely not in the running — “He’s so grumpy nowadays. He’d just be moaning the whole time,” Cowell said.