"American Idol" is finally back! The ABC network has signed a new deal for the revival of the show. According to TMZ, it is scheduled for March 2018. Ryan Seacrest will resume hosting, while also being the permanent co-host on Kelly Ripa's "Live."

TMZ reported that the new deal was made official on Friday, May 5. Reportedly, ABC and several networks came together to reboot the once popular singing competition. The production companies Core Media Group and FremantleMedia, opted for Seacrest to be the new host. Previously, "American Idol" debuted on the Fox Network in 2002 and ended in 2016 after the show tumbled in ratings and viewership.

Ryan Seacrest tapped to Co-Host Kelly Ripa’s ‘Live'

ABC's host Kelly Ripa had found a new permanent co-host for her "Live" daytime talk show. Ripa worked with several guest co-hosts over the past year but now has finally settled on a permanent co-host to replace Michael Strahan, who had left to join "Good Morning America." Ryan Seacrest walked into the studio and was introduced, along with the new title of the show: "Live with Kelly & Ryan." The audience cheered as Ripa excitedly proclaimed that the next chapter of the show was about to begin.

Seacrest is currently based in Los Angeles for his radio gig, but the 42-year-old media personality said he planned to move to New York for his new role. Meanwhile, the new co-host will continue to host the "American Top 40" and "On Air With Ryan Seacrest" shows.

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The multi-tasker also interviews celebrities on "E! Red Carpet," a staple at popular award functions.

Seacrest and Ripa are well acquainted with each other

Additionally, Seacrest will continue to host "Dick Clark's New Year's Rockin Eve with Ryan Seacrest" on ABC. Apart from all the prior assignments, he also works behind the scenes on the "Keeping up with the Kardashians" reality show. Jennifer Lopez's NBC drama "Shades of Blue" and a few other programs are also on his priority list.

The two popular hosts are well acquainted with each other. Seacrest and Ripa worked together several times over the past few years. Additionally, Ripa and Seacrest co-hosted the annual "Disney Christmas Day Parade" for the past four years.