Simon Cowell in Global TV, Music Venture with Sony Music

LONDON/NEW YORK: Simon Cowell has entered into a long-term global venture with Sony Music Entertainment for TV, film, digital content and music projects, with the new co-owned entity to continue to use the Syco name.

Prior to the creation of the new joint venture enture, Syco was the name used for Cowell’s music and television activities within Sony Music Entertainment UK. The new venture will own all of the existing Syco television assets, including The X Factor and Got Talent. It will be co-owned by Sony Music and a Simon Cowell-owned company, with headquarters in London and offices in Los Angeles. The first project under the new Syco banner is the U.S. version of The X Factor, due to launch on FOX in the fall of 2011. Cowell will serve as both executive producer and judge on the U.S. version of the show, following his final season on American Idol this year.

"Simon Cowell is one of the most prominent and successful creative music and television executives in the entertainment business today," said Sir Howard Stringer, the chairman, CEO and president of Sony Corporation. "This new venture will allow Sony Music and all Sony divisions to develop and pursue a host of new opportunities with this supremely talented individual."