As if American Idol judge Simon Cowell doesn't have that much on his plate, he's throwing in an extra: he is setting up a new entertainment company that will develop new shows for both his native United Kingdom, as well as the United States.

While no details have yet been released, reports say he is collaborating with British billionaire Philip Green, best known as the man behind the Topshop stores.  This is not the first collaboration between the two: the retail mogul has given advice to Cowell regarding his contract negotiations for Idol.  (It must be a good partnership: some reports say he's been given a contract so big it'd "surpass even Oprah Winfrey's estimated earnings," according to the Financial Times.)


The new company is understood to effectively become a holding company for Cowell's existing television formats, including the Got Talent franchise and his talent show from across the pond, The X Factor; it is also expected to develop new content that Cowell may devise, with Green providing business advice.  Details are still being finalized, but they're expected to show up next month.  Currently, Cowell runs the production company Syco.

The Daily Mirror reports, however, that the new foray means Cowell will be leaving The X Factor when its upcoming season ends.  Sources tell the tabloid that he's told his friends he wants to see Girls Aloud singer Cheryl Cold take his place on the judging seat.  In other words, it looks like he really isn't leaving American Idol--after all that discussion, then...


-Henrik Batallones, BuddyTV Staff Columnist
Sources: BBC News, Zap2it, The Daily Mirror
(Image courtesy of PR Photos)