"Yo! Yo! Yo! To put all of the speculation to the rest, after 12 years of judging on ‘American Idol' I have decided it is time to leave after this season," he told Access Hollywood in a statement on Thursday. "I am very proud of how we forever changed television and the music industry. It's been a life changing opportunity but I am looking forward to focusing on my company Dream Merchant 21 and other business ventures."
Randy's announcement comes one day after The Wrap reported that there were plans by FOX to cut all four of the judges from the show – Randy, Keith Urban, Nicki Minaj and Mariah Carey.
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"All four are gone," a source told The Wrap. "They feel they've lost their core audience and they want it back."
The Wrap also reported that longtime executive producer Nigel Lythgoe is likely to be replaced on the show.
Ratings on the show have continued to drop, and according to The Wrap, are down 22 percent for Season 12.
FOX and Fremantle had no comment when contacted by Access Hollywood. A rep for Lythgoe did not reply to a request for comment from Access regarding The Wrap's report.
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