Reid told the Hollywood Reporter, "Of course I will miss the show. In my opinion, Simon attracts the best talent, but I'm looking forward to getting back to my core business and the responsibility of running Epic Records."
The three contestants going to the finals were also revealed Thursday in a surprising elimination. The sensational boy band Emblem3 received the lowest number of fan votes, sending 13-year-old Carly Rose Sonenclar, country singer Tate Stevens and Simon Cowell's girl group, Fifth Harmony, to compete for the $5M record deal.
See which contestant has "The X Factor" next Wednesday and Thursday on FOX.
The big "X Factor" news Thursday wasn’t who's going to the finals, but who's leaving the show for good. Judge L.A. Reid announced this would be his last season with the singing competition.