Simon Cowell launches venture with Sir Philip Green

Simon Cowell, the man behind X Factor, could become one of the most powerful men in entertainment with a new venture. He is in talks with retail mogul Sir Philip Green - who owns BHS and the Arcadia group which includes Topshop, Dorothy Perkins, Miss Selfridge and Burton - over a possible business deal described as a global entertainment business. The X Factor judge's spokesman Max Clifford said discussions are at an early stage, but there are "a lot of synergies" between the two men's business interests. Cowell, who is behind many of the most successful TV talent shows of recent years, including Britain's Got Talent, the X Factor and American Idol, has been friends with Sir Philip for a long time. A deal between them could be worked out in the coming weeks, Clifford said, adding: "It's about the whole combination of the two worlds both men are in." He said: "There are a lot of synergies there. They are having discussions and in the next few weeks we will know exactly what is happening - things are still being finalised." The new venture would effectively act as a holding company for Cowell's entertainment interests and a springboard for future TV programmes. It is likely to offer Sir Philip potentially lucrative merchandising opportunities, particularly in clothing.

» More on this story... «

ITN | June 25, 2009

Tags:. .act. .whole. .topshop. .owns. .friends