Former American Idol judge Paula Abdul is using her status as a free agent and expertise as an ’80s pop star to launch her own record label. And if that isn’t enough, Paula’s roster will be comprised entirely of former Idol rejects she believes have the potential to be superstars, industry informants reveal in the Oct. 12 edition of The National Enquirer.

“She believes she’s a good judge of what it takes to become a succesful recording artist…”

Tabloid spies claim the “Forever Your Girl” star is in discussions with several record companies in hopes of developing her own label. After more than 20 years in the recording industry, Paula is well-versed on many aspects of marketing and touring and has already targeted several ex-Idol who were previously dropped by A.I.’s 19 Entertainment.

That means Paula may one day find herself in charge of the careers of singer like Katharine McPhee, Ruben Studdard, Bo Bice, Diana DeGarmo, Blake Lewis, and Taylor Hicks.

“Paula’s not naming any names because she wants to sign talent quietly so she can maximize her investment, but she definitely has her eye on artists who released records, and then got lost in the shuffle.”