UPDATE: New sources say that Paula’s deal with ABC has failed to come to fruition. Perhaps she’ll make it to X-Factor with Simon Cowell after all!

New rumors suggest that all the old rumors are untrue: Paula Abdul won’t be doing X-Factor after all. Gossip says that Abdul is currently in talks with ABC to host a new version of Star Search, which is being newly re-vamped for television. The series ran for 12 years (1983-95) with Ed McMahon at the helm.

Here’s the thing: Star Search has been re-vamped before. CBS did it in 2003 in an effort to compete with American Idol (the plan didn’t work). Arsenio Hall was the host, and it was canceled after only two seasons. In fact, CBS still has their official Web site up for the series.