Simon Cowell Signed a Deal with Sony
Looks like Simon Cowell’s future after American Idol is getting brighter and brighter.
Following the first step of signing a deal to the U.S. version of British-originated talent show, The X-Factor, Cowell has formed a five-year deal with Sony Corp’s Sony Music Entertainment.
The long-term venture that was announced Tuesday, will be called Syco after Cowell’s record label. In more detailed explanation, Sony Music will exchange its 100 percent ownership of Cowell’s record label Syco for a 50 percent share of a broader venture with Cowell.
The new venture will produce a range of music, television, film and digital content, often with other Sony divisions. It will own the existing Syco television and music assets including global TV franchises The X Factor and Got Talent and star singers like Leona Lewis and Susan Boyle.
About the new deal, 50-year-old Cowell said, “I have had a fantastic relationship with Sony for many years and I’m delighted we are launching this venture together.” While Ged Doherty, chairman and CEO of Sony Music Entertainment UK, added: “With the launch of The X Factor in the U.S., we look forward to replicating the unprecedented success the show has had in the UK globally.”
As we reported about a week ago, this year’s American Idol will be Cowell’s last season. He will be both a judge and the executive producer of The X Factor, which will be launched in the United States in autumn 2011.
Well, good luck for your future steps, Simon!