Already known to television audiences in Britain and the United States as the acerbic judge on hit talent shows like "American Idol", "The X Factor" and "Britain's Got Talent", the 52-year-old is looking to expand his empire.
"DJ's are the new rock stars, it feels like the right time to make this show," he said in a statement.
The new format will be co-produced by SYCO, Cowell's joint venture with Sony Music, and Overbrook Entertainment, a U.S. entertainment company founded by Hollywood star Will Smith.
It's about time we have a show like that.
If @SimonCowell asked me to be a judge on that show I'd say yes. I think I'd be a good fit :) (And sounds like a lot of fun)
If BT was to co-judge the show I'd definitely watch it.