Simon Cowell's TV show with Jada Pinkett-Smith has been axed.

The music mogul was set to work with the Hollywood actress and her husband Will Smith in a search for the world's greatest DJ, but the project was ditched after Simon demanded top billing and Jada's production company Overbrook Entertainment refused.

"It's not happening anymore because of Simon," a source told Page Six.

Another insider added, "There were some deal points that couldn't be worked out, and Sony [Pictures Television] and Overbrook walked away."

A representative for Simon's company Syco confirmed the show will not be going ahead, saying, "Syco and Overbrook decided not to proceed together on a DJ-competition show."

Simon had previously spoken of his excitement at the project, saying, "We have been working on this show for over a year and we wanted to partner with the right people. As soon as I met Jada and Miguel from Overbrook, I knew they would be our ideal partners. DJs are the new rock stars, it feels like the right time to make this show."