Ryan Seacrest to be axed from 'American Idol'?

Ryan Seacrest, who hosted American Idol since its first series in 2002, may soon be dropped from the singing reality show as his three-year contract comes to an end.

According to hollywoodreporter.com, CKx, the parent company of 19 Entertainment, which co-produces the show, is no longer willing to pay $15 million per season to the 37-year-old presenter.

“There's no way FremantleMedia (who also produce Idol) and CKx will continue to pay Ryan (Seacrest) when he can be replaced for $2 million to $3 million,” dailymail.co.uk quoted a source as saying.

Seacrest may indeed be following fellow presenter Steve Jones who after fronting the first season of the US version of The X Factor has reportedly been told to leave the show after negative reviews.