Michael Jackson plans to launch his own US talent show

Singer Michael Jackson, who is reportedly  close to losing the deeds to his Neverland Ranch after failing to keep up with mortgage repayments - is planning to launch his own US TV talent show & is planning to team up with brother Jermaine, 58, Dad Joe, 78 and actor Jamie Foxx to front a television series to rival Simon Cowell's hugely successful 'American Idol'.

A source close to the Jackson family said: "Michael has seen how big 'American Idol' has become, but knows that by teaming up with his family and high-flying friends he can do even better."

Jackson, 49, is set to appear as a mentor on UK talent show 'The X Factor' in December - which will be  Jackson's first appearance on British TV since the hugely controversial Martin Bashir documentary - 'Living with Michael Jackson: A Tonight Special' in 2003.

Cowell recently said: "I got a call from his people saying he really likes the show and would love to be a part of it."