That X-Factor Simon Cowell has? It's more than just a TV show…and it's downright powerful.
The reality television guru isn't just leaving American Idol after this season to launch an American version of the U.K.'s X-Factor. He's taking his Syco brand to epic new heights.
Cowell has inked a new deal with Sony to produce and distribute music, television, film and digital content in a joint venture, per Variety. Each party will have a 50 percent stake in the new company under the Syco banner.
"Simon Cowell is one of the most prominent and successful creative music and television executives in the entertainment business today," Sony chairman Howard Stringer said in a statement. "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."
Maybe they'll even cash in and release "Pants on the Ground" as a first single.
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