Simon Cowell to leave 'X Factor'?

Thursday, 25 June 2009

Simon Cowell may step down from judging 'The X Factor' to concentrate on a new business venture.

The lead judge on the TV talent search has announced he is forming a company with Topshop tycoon Sir Philip Green, which they hope will be bigger than US entertainment conglomerate Disney.

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Friends claim this will leave him no time to appear on the 'X Factor' panel.

A source told Britain's Daily Mirror newspaper: "He has found the show increasingly draining and it leaves him little time for serious business."

Simon and Philip's multi-billion pound plans will see the new company incorporate TV shows, talent management and merchandising.

A source said: "They are thinking in terms of a new Disney. What they are planning is that big. They are talking about making profits of billions as opposed to millions from their joint venture."

Simon - who is worth an estimated £120 million and made a reported £44 million in 2008 from ventures including TV shows 'America's Got Talent' and 'The X Factor' - will present and produce the television programmes, while his new business partner will oversee business strategy.

Sir Philip - who us worth £4.43billion - confirmed: "It will be a multi-faceted media business operating television, production, music, talent management and merchandising. It should be a lot of fun."

There is also doubt over whether Simon will continue as judge on the show's US Counterpart 'American Idol'.

Cheryl Cole - who presently judges 'X Factor' alongside Simon, Louis Walsh and Dannii Minogue - is favourite to take over as face of the show.

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