Simon Cowell Laughs Off Rumors He's Gay

Simon Cowell is not gay. The music mogul, who recently split from his long-term girlfriend Terri Seymour, has laughed off rumors about his sexuality - claiming he is single because he keeps "crazy hours."

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He said: "I am friends with all my exes and I enjoy their company, but I keep crazy hours."

"I am not gay. But in this business, if you were it wouldn't matter. It is not exactly unusual to be gay in the music business or the TV business."

"It is 2009, after all. So if you are, you are and if you are not, you are not."

But despite his insistence that he is straight, the 49-year-old star admits he was "unlikely" to settle down with a woman.

He said: "I don't think marriage would suit me or the person I would marry. I am happy single."

"So until I sort out what I am going to do in the next couple of years, or beyond, it is difficult to think about that."

Cowell also hit back at claims he is underpaying the young stars he represents.

He added: "It's not slave labor. I don't mind being cast as a pantomime baddie but I pride myself on being fair in business."

"The precise figures are confidential, but these people earn around 50,000 pounds [$70,000] each on 'The X Factor' tour."

"For any kid who wants to get into the music business and who hasn't got a recording contract... well it's a good deal."