Simon Cowell and Sony Music poised to announce joint-venture deal

Sony to swap 100% ownership of Syco for half of new venture – as Simon Fuller guaranteed 10% of American Idol profits for lifeSimon Cowell is set to announce his much-anticipated deal with Sony Music that will see the launch of a joint venture, while Simon Fuller has reached a deal to secure 10% of future profits of American Idol for life.Under the deal, Sony will swap 100% ownership of Syco, the company that controls rights to acts such Susan Boyle and Leona Lewis, for a 50% stake in the...

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