Cowell pens $500m Sony deal

Simon Cowell has signed a $500m (€352m) deal with Sony.

The music mogul’s new two-year contract with the entertainment giants will see him rake in the staggering sum – expected to tip his fortunes close to the $1bn (€700m) mark – as he launches Syco TV to produce and sell the formats for his ‘X Factor’ and ‘… Got Talent’ franchises.