Music mogul Antonio 'L.A.' Reid is to quit TV talent show The X Factor after two seasons.

The chairman and CEO of Epic Records will walk away as a judge on Simon Cowell's show when the current season ends next week.

Announcing the news on Thursday, Reid says, "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 saddens me a little bit, but only a little bit. I love Simon. We have a great relationship. We have fun together, we talk, we laugh, we do bad things, we're friends."

There has been no mention of who will replace him on the show, which earlier this year welcomed Demi Lovato and Britney Spears to the judges' table.

Reid joined the TV talent contest as a judge and mentor last year.