Simon Cowell Inks $500 million Deal with Sony

By Zac Morrison at 20 January, at 12 : 14 PM

Simon Cowell may be leaving American Idol next season, but that does not prevent him from earning more bucks from his “business” move. This is because he recently signed up a deal with entertainment titan Sony to partner with Syco TV to partner in bringing two of his UK TV shows X Factor and British Got Talent to the United States.

Because of this lavish deal, Simon Cowell’s fortune staggered up to more than $1 billion this year. A reliable source shared that Simon is really thrilled about Sony’s proposition: “He is truly in the driving seat. He felt like an employee before, but now he has some real ownership and is thrilled to be side by side with Sony.” The 50 year old music mogul is also amused with the drumbeaters sayig that that former Spice Girls singer Victoria Beckham is the first person he will invite to be on the judging panel of the US-version X-Factor. Simon joked that it’s not going to happen because he doesn’t like her.

Simon Cowell said that X-Factor has more potential than American Idol because it has no age limits: “In the UK we have 250,000 applicants every year and because there’s no upper-age limit and groups are allowed to enter, you get a lot of applications.” We’re betting that Simon Cowell knows what he’s doing and X-Factor might just be good to be seen in the US format.