Idol’s Cowell to Launch Entertainment Firm

Simon Cowell is to partner with U.K. retail magnate Sir Philip Green on a global entertainment company that will produce and own TV content in the U.S. and Britain, according to the Financial Times.

The venture, which does not yet have a name, will have Green’s backing as a holding company for Cowell’s entertainment interests, as well as a launch pad for new programming. It would also provide Green with merchandising opportunities.

The FT reports that a new Cowell contract for Fox’s American Idol—the current contract expires in May—will likely be struck through the new company. The rights to the show are owned by 19 Entertainment.

It also states that Cowell’s long-term deal with Sony Music comes to an end next year, adding that a source says he is keen to agree new deals with all of his broadcasting and music partners.

Nielsen Business Media