![]() Cowell even gave up his judging duties on American Idol to sit front and center at The X Factor auditions. In 2011 Cowell helped import his hit British series The X Factor to America, with the promise of a $5 million recording contract for the winner. The group also produced records for many of the performers on Cowell's shows, including Leona Lewis and Il Divo. The company created the television shows American Inventor, America's Got Talent and The X Factor. He set up another company, SYCOtv, in 2002. The show drew in a record number of viewers for Fox, in addition to producing pop stars Kelly Clarkson (2002), Ruben Studdard (2003), Fantasia Barrino (2004), Jennifer Hudson (2004), Carrie Underwood (2005), Taylor Hicks (2006), Jordin Sparks (2007) and David Cook (2008), among others.Ĭowell became known for combining his music and television interests. The American version, American Idol, debuted in 2002, with Cowell judging alongside singer Paula Abdul and producer Randy Jackson. With Cowell as a judge notorious for reducing contestants to tears, the show was an instant success, drawing more than 10,000 would-be stars to audition for the show. and promised a BMG record deal to the winner. In 2001 Cowell teamed up with Simon Fuller to produce a show in which the public chose Britain's next big music performance star. ![]() If you are writing a comment for publication, please mark clearly "for publication".As of 2019 Cowell has an estimated net worth of $550 million. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. To contact the MediaGuardian news desk email or phone 020 3353 3857. The company will produce the new US version of The X Factor, which launches on Rupert Murdoch's Fox network on 21 September. A spokeswoman for Syco said she did not wish to comment.Īs well as holding the rights to Cowell's hit formats, Syco also acts as a record label for artists spawned by the shows, such as Leona Lewis and Susan Boyle. Sources close to Green insist that he has an "informal agreement" with Cowell, but that the pair intend to keep the arrangement confidential. Green told the magazine that he wanted the company to be called Growl, adding: "My instructions are to create a big business and float the company in five years."Īs MediaGuardian reported in June, Green is understood to have fallen out with key executives at Sony during negotiations with the record label, which led Cowell to re-evaluate the nature of his business relationship with the retail tycoon. In an interview with GQ magazine the pair spoke of becoming partners in a business that would become a "new Disney", with merchandising and retail arms. The ownership structure is a far cry from plans outlined by Cowell and Green in 2010. The remaining 0.05% is held by Zelltore Ltd, a company which is wholly owned by Cowell. Sony Music owns exactly 50% of the company, while Cowell personally owns 49.95%. However, documents lodged at Companies House earlier this month show that Green does not hold a stake in Syco.Īccording to Syco's annual return, the company has issued 20,020,000 shares. The statement said that Green, the retail magnate behind TopShop, would be "an adviser to Simon Cowell and a shareholder in the company, majority owned and controlled by Cowell, which will serve as the partner with Sony Music". ![]() Announcing the formation of the entertainment vehicle, in January 2010, Cowell and Sony said that each would own 50% of the new company.
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