By Bridget Bland

Posted January 27th 2010

With the recent exit of Paula Abdul and the new hiring of Ellen DeGeneres, it was only a matter of time before another judge would depart ‘American Idol.’After eight years, and despite being told to name his price, on Jan.11, Simon Cowell announced at the Television Critics Association press tour that this would be his last season on TV’s most successful talent competition series.

And one big name has come up as the fiery Brit’s replacement: Jamie Foxx.

A show insider tells Life & Style magazine that Academy Award-winning actor/singer is a strong contender for the job, as is Interscope Records co-founder Jimmy Iovine, who is credited with launching Eminem‘s career, among others.

Last year, the comedian served as a mentor to the ‘Idol’ finalists during Rat Pack week. He also performed his hit single, ‘Blame It.’

Fuller, however, may have other designs. He’s allegedly eyeing Madonna to fill Cowell’s position as one of the show’s two male judges along with Randy Jackson, a decision that will be tough for him.

“When we have to do something about Simon, I’ll be in the luxury position of looking at all the greatest stars of the world,” said ‘ Idol’ creator Simon Fuller, who is allegedly eyeing Madonna to join the show.

As widely reported, Cowell will concentrate on bringing his British talent show, ‘The X-Factor’ state-side in the fall of 2011. Ironically, ‘X-Factor’ brought the demise of ‘Pop Idol,’ the UK version of ‘American Idol.’

The new show will also air on Fox and Cowell is rumored to sit at the judge’s table along with Abdul.