Louis Walsh's "Valuable Lesson" in X Factor Sacking  6/29/07

Irish music impresario Louis Walsh has thanked The X Factor bosses for sacking him from the show because the experience taught him a "valuable lesson".

The pop mogul was fired from the British TV talent series in March (07), but was reinstated to the judging panel with Simon Cowell and Sharon Osbourne earlier this week (ends01Jul07).

Walsh now admits the ordeal "was a good thing", showing him the uncertainty of the entertainment industry first-hand.

He says, "I still love the whole thing. In a way I think it was a good thing for me to be sacked because in show business nothing is definite.

"That's a thing I always tell other people and then it happened to me. Maybe I needed that. Now I know what it is like. I had a lot of sleepless nights when I was sacked, a lot of stress, and I learned a valuable lesson. You can get a phone call that can make you or break you."