"I'd say it's a pretty good shot," Cowell toldTV Guide Magazine on Thursday night when asked about reports that Stern in serious negotiations to replace Morgan on America's Got Talent, which Cowell created and produces for NBC.
"As a producer, if it happens, it's good news," Cowell added. "I'm going to have a long year [laughs], but I can deal with that."
Morgan announced he would not reprise his judging role on next summer's seventh edition of the NBC reality talent competition during Wednesday night's broadcast of his Piers Morgan Tonight talk show on CNN.
According to the Wall Street Journal, Stern and NBC are currently in negotiations for a deal that would pay him about $15 million a year to join remaining America's Got Talent judges Sharon Osbourne and Howie Mandel on the show's judging panel.
Stern would reportedly continue to host his New York City-based Sirius XM satellite radio show as part of the deal, which could result in NBC moving America's Got Talent's production from Los Angeles to New York if an agreement is reached.