American Idol Finale, Steven Tyler, Jennifer Lopez, Randy Jackson

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Apparently Steven Tyler and Jennifer Lopez aren't the only ones leaving Idol!

According to The Hollywood Reporter, Fox's hit show American Idol is rumored to be downsizing for it's upcoming 12th season.

So, what's the big small deal?

Although still managing to draw some 20 million viewers for season 11, Idol ratings were down 25 percent from last year, causing an ad revenue decline, which reportedly requires trimming the fat.

Sources tell THR: "The show is looking to downsize significantly for season 12, cutting budgets, staff and, of course, salaries."

So where does that leave Steven Tyler and Jennifer Lopez's replacements?

The big names who have been rumored as new judges certainly don't seem to bode well for the word "budget," that's for sure.

With everyone from former Idol winner Adam Lambert to Miley CyrusKaty PerryNicki MinajFergie, and especially the divalicious Mariah Carey, being considered for the next round of judges, we can't imagine anything dramatically less than what Lopez was earning (a reported $20 million) would rope in the new talent.

And amongst all the current unknowns, another unanswered question remains in Randy Jackson's potential return and future involvement on the show. The original "Dawg" is rumored to be bringing Mariah, whom he manages, in as a judge, with his position on the show possibly shifting to more of a mentor for contestants. 

Despite all the changes, we're sure we'll still tune in to obsess over the next soon-to-be-superstar...and possibly, even Mariah's outfits?!

Fremantle and Fox had no comment on the story when contacted by E! News.

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