L.A. Reid Not Returning to 'The X Factor'

la reid leaving x factor

Epic Records CEO L.A. Reid has announced that he will not be returning to 'The X Factor' for season three.

He told Access Hollywood, "I have decided that I will not return to The X Factor next year.  I have a company to run that I've kind of neglected."

It doesn't sound like he has many regrets about bailing on the reality competition, "It saddens me a little bit, but only a little bit."

He does admit that he will miss one of his fellow judges, "I love Simon. We have a great relationship.  We have fun together, we talk, we laugh, we do bad things, we're friends."

Though he didn't gush specifically about Britney Spears or Demi Lovato, he characterized the experience as "a nice break" from his day job.

As long as we're talking 'X Factor,' how do you think Khloe Kardashian has been handling her co-hosting duties with Mario Lopez?  She seems more than a little bit out of her element.  Your thoughts?

Check out the inteview below:

Photo Credit:  WENN