According to Reid, who is chairman and CEO of Epic Records, his recording company responsibilities are the reason he is leaving The X Factor.
"I have to go back and I have a company to run that I've kind of neglected and it saddens me a little bit, but only a little bit," he explained. "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."
"I have a huge responsibility to a roster of [Epic] artists and it's kind of time for me to stop doing the 'me' show."
"I love Simon. We have a great relationship, we have fun together, we talk, we laugh, we do bad things, we're friends. I owe so much to Simon," he said.
"I really have a lot [of] respect for him and I always will. I support him, I support the show and I'll always be in business with him."
Reid's exit will leave Cowell asThe X Factor's sole remaining original judge.
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