The music and reality TV mogul teamed up with executives at Yahoo in April (15) for new talent show Ultimate DJ, a live contest in which up-and-coming electronic music stars would compete for the grand prize of a Sony Music recording contract and a headlining spot at a major music festival.

At the time of the project's big announcement, executive producer Cowell said, "Electronic music is one of the most important genres around the world and we want to respect what's happening around the world."

The show was expected to premiere early next year (16), but according to, it has been axed.

Cowell and bosses at Yahoo have yet to comment on the news, which comes a week after the Brit confirmed reports he was returning to TV in America as one of the new judges on next year's (16) America's Got Talent.