L.A. Reid will not return to “X Factor”

L.A. Reid has made the decision not to return to “The X Factor” as a judge for the third season. “I have the utmost respect for Simon Cowell.” he said in a statement, “He is the very best, and I have had the opportunity to learn so much from him. Working with him on X Factor has been a once-in-a-lifetime experience. I’m honored to have sat on the panel with such incredible talent.” Sources say the Epic Records Chairman is “going back to the music business full time, it’s his decision.” Reid has confirmed this by saying he intends to dedicate himself once again to his role as chairman and CEO of Epic Records. “It was a nice break, it was a nice departure from what I’ve done for the past 20 years, but now I gotta go back to work,” he said.