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“The X Factor” Gears Up for Finale, LA Reid Announces Departure

Posted Friday December 14, 2012 10:53 AM GMT

It’s all coming down to the wire for the “X Factor” hopefuls, as next week three lucky competitors will duke it out for the grand prize.

Simon Cowell’s Fifth Harmony ended up making the cut, as did LA Reid’s Tate Stevens, and Britney Spears' Carly Rose Sonenclar, but Emblem3 ended up getting kicked to the curb and will not have a chance at the $5 million recording contract.

Cowell shared his disappointment over Emblem3’s loss-"This is the way it goes on competitions. I'm gutted really for them ... But it happens."

Meanwhile, LA Reid has announced his plans to resign from “The X Factor” and get back to his gig at Epic Records. "I have decided that I will not return to The X Factor next year. I have a company to run that I've kind of neglected. It saddens me a little bit, but only a little bit."

"I love Simon. We have a great relationship. We have fun together, we talk, we laugh, we do bad things, we're friends."

Photo Credit: Getty Images