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Britney and Demi: 'X-Factor' New Judges

It has been confirmed that "X-Factor" will see pop music icon Britney Spears as well as Demi Lovato as new judges on the reality series this season.

"I'm a huge fan of the show and now I get to be a part of the action," said Spears during Fox's Upfront advertisement presentation in New York City on Monday.

The contract details of the stars and new judges are uncertain, but it is suggested that Spears may sign an agreement worth up to $15 million.

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"I am so excited about this whole experience," Spears told the crowd on Monday, according to Us Weekly. "It's going to be so much fun and so different from anything I've ever done. I'm ready to find the true star."

Lovato also attended the event in New York donning a new lightened hair color.

"I am totally stoked to be here," said the singer. "I'm excited to represent my generation."

Spears and Lovato will work alongside "X-Factor" creator Simon Cowell as the show enters its second season in the U.S. Also, music executive L.A. Reid remains on the show, while the new judges replace former judges Paula Abdul and Nicole Scherzinger, who were fired along with host Steve Jones at the end of season one.

"I'm absolutely delighted Britney and Demi are joining us," said Cowell, according to the Detroit Free Press. "Britney remains one of the biggest stars in the world; she's talented, fascinating- and I believe she knows exactly how to spot 'The X-Factor.'"

Noting Lovato's youth, Cowell added, "Demi's had an amazing career in music, TV and film for someone her age. She's young, confident and enthusiastic."

"X-Factor" accepts solo artists and vocal groups who are aged 12 and up.

"I think it's really important that she speaks to our younger audience," said Cowell of 19-year-old Lovato.

The singing competition television series will air just ahead of Fox's hit series "Glee" on Thursday nights starting this fall.

Ex-host Jones' replacement has not yet been confirmed.

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