Report: Britney Spears in as New X Factor Judge

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Following weeks of chatter, it's now reportedly official: Britney Spears will serve as a judge on season two of The X Factor.

For a cool $15 million.

Britney Spears Picture

An insider confirms this news to E!, adding that Britney's fiance/manager, Jason Trawick, will be hired as a producer on the Fox singing competition, while the deal will make Spears the highest paid judge on reality television. (Jennifer Lopez earns $12/season on American Idol.)

Paula Abdul and Nicole Scherzinger were fired from The X Factor following a disappointing opening season for the Simon Cowell-led series.

"She gets on very well with Simon," an insider says of Spears and Cowell. "He has worked hard at persuading her to start this new chapter in her career. She is an icon, and the perfect example of what having the X Factor means... She's really looking forward to the project and being able to connect with her fans."

What do you think of Britney Spears as an X Factor judge?

Matt Richenthal is the Editor in Chief of TV Fanatic. Follow him on Twitter and on Google+.