It looks like the rumors that began two years ago have become a reality. Simon Cowell, along with SFX Entertainment and T-Mobile, are bringing a new talent competition show revolving around electronic music to life called "The Ultimate DJ."

"The Ultimate DJ" was originally developed by Simon's production company Syco (the company behind shows like "The X Factor" and "Britain's Got Talent"), and in the fall of 2012 rumors about the show began swirling. Now, Syco, SFX, and T-Mobile have made it official.

Their new project will launch online initially featuring "producer challenges" in which DJs submit their recordings to be voted on by fans through social media. Then, "live challenges" and performances will take place in SFX event venues.

In a press release, SFX CEO Robert Sillerman says, "Bringing EMC to the world is our goal. And building a TV franchise in the USA is a key part of that strategy. It’s always exciting to work with Simon Cowell, and the creative power of the Syco organization is undisputed. They are the perfect partners for our vision."

Meanwhile, Simon explains, "We have been developing this concept for a while but our partnership with SFX has been a real game-changer for this format. It made complete sense for us to collaborate with SFX with their access to the best up-and-coming DJs and their great marketing platform to build new DJ talent. And I’m delighted to have T-Mobile on board with their brilliant vision and innovation."

Who will be end up as "The Ultimate DJ?"

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