VIDEO: Michael Douglas Turned Down FROZEN, Cowell Reveals Musical Film in the Works with Ortega

Michael Douglas and Simon Cowell were among the guests on last night's LATE LATE SHOW WITH JAMES CORDEN on CBS.

Speaking on his upcoming projects, Cowell shared, "I've always been a huge fan of what [Kenny Ortega] did in 'High School Musical' and 'Dirty Dancing,' so we have a new music film project we're doing." He also revealed he is working on some upcoming animation projects including a feature film of "Betty Boop."

In even bigger news, Douglas revealed his regrets in turning down one of the greatest opportunities of his career, sharing, "You talk about the pictures that you turned down, there's one animation picture, just a voice-over, that would have been more profitable for me than any picture I'd ever done, Frozen."

Later, Cowell shared he was "about to jump off a cliff" when he heard the news that Zayn Malik was leaving One Direction.

Watch all the clips below!