X Factor Announces $5M Prize

During last night's Super Bowl, Simon Cowell's upcoming reality show the X Factor debuted its first advertisement, and Fox later announced additional details about the U.S. version of Cowell's overseas hit show. According to the network, the show's winner will take home a $5 million record deal - allegedly the largest grand prize ever promised in television history - signed by Sony Music and Cowell. The show is slated to debut in September, and auditions will begin on March 27 at the L.A. Sports Arena, Fox confirmed. Tryouts will also be held in Chicago, Dallas, Miami, New York, New Jersey and Seattle. Anyone over the age of 12 is eligible to audition. "I like the idea that a 12-year-old on this show can compete with an older singer and a singing group," said Cowell in a statement. "I've never believed there should be a cut-off age for talent, and we are going to put our money where our mouths are with the $5 million recording contract."