'American Idol' Gears Up to Announce Judging Panel

Ryan Seacrest confirmed "American Idol" will announce the new panel Wednesday.

“American Idol” fans will learn Wednesday who will fill the three vacant judge spots on the powerhouse Fox reality show.

The announcement will be made in a live webcast at 1 p.m. on the show’s website. Host Ryan Seacrest will introduce the panel, according to a post on his Twitter page.

As the show moves into its 10th season, only one judge from the original lineup, Randy Jackson, remains.  Simon Cowell announced his departure earlier this year to move on to his new show “The X Factor.” Paula Abdul left the show in 2009 and judges Kara DiGuardi  and Ellen DeGeneres announced their departures in recent months.

For months, fans have been speculating about who would fill the vacancies. Several A-list names, including Elton John, Justin Timberlake and Jennifer Lopez, have been tossed around as possible replacements.

Lopez, 41, is rumored to have completed a deal worth $12 million to join the panel as a replacement for DioGuardi.

Aerosmith frontman Steven Tyler is also rumored to have signed a deal worth $18 million to complete the panel.

A news conference will follow the official announcement.