By Jeff Labrecque
Updated February 07, 2011 at 01:47 PM EST
Credit: Ian Derry/Fox
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Image Credit: Ian Derry/FoxThere will be at least 5 million reasons to watch Simon Cowell’s X Factor when it premieres next fall. The singing-competition show has announced that the winner of this season’s contest will win a $5 million record deal with Cowell’s joint venture with Sony Music. Auditions are open to any aspiring superstar 12-years or older and will begin March 27 in Los Angeles, with Chicago, Dallas, Miami, New York/New Jersey and Seattle also set to host auditions. “I like the idea that a 12-year-old on this show can compete with an older singer and a singing group,” said Cowell, in a statement. “I’ve never believed there should be a cut-off age for talent, and we are going to put our money where our mouths are with the $5 million recording contract. I’m doing this show in America because I genuinely believe we can find a superstar.”

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