lareid021012_15_230.jpgAfter two seasons as judge on The X Factor, L.A. Reid is calling it quits as the music mogul will not return for a third season.

"I have decided that I will not return to The X Factor next year," he told Access Hollywood. "I have to go back and I have a company to run that I've kind of neglected and it saddens me a little bit, but only a little bit."

Reid insists that his decision is based around work as he wants to get back to business as the chairman and CEO of Epic Records.

“I have a huge responsibility to a roster of artists and it’s kind of time for me to stop doing the ‘me’ show,” he said. “It was fun! I had a great time.”