Simon Cowell and Sony ink deal

Simon Cowell and Sony Music Entertainment announced on Tuesday the creation of a joint venture to produce and distribute music, TV, film, and digital content, according to The Hollywood Reporter. Coming just days after Cowell announced that he was leaving American Idol, his new five-year partnership with Sony will pool the TV and music assets of his X Factor and Got Talent shows on both sides of the Atlantic as well as a musical roster that includes such hitmakers as Leona Lewis and Susan Boyle. In exchange, Cowell will regain partial control of his production company, Syco, which had been 100-percent owned by Sony. “I have had a fantastic relationship with Sony for many years and I am delighted we are launching this venture together,” Cowell said in a statement.