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Simon Cowell has taken ownership of The X Factor and Got Talent formats after buying out Sony Music Entertainment's share of their joint-venture:
https://www.sonymusic.com/sonymusic-labels/simon-cowell-to-acquire-sony-music-entertainment-stake-in-television-talent-and-production-joint-venture/
https://www.sonymusic.com/sonymusic-labels/simon-cowell-to-acquire-sony-music-entertainment-stake-in-television-talent-and-production-joint-venture/
Quote:
15 July, 2020 16:00 London, 11:00 New York, 08:00 Los Angeles – Simon Cowell and Sony Music Entertainment have reached an agreement for Cowell to acquire Sony Music Entertainment’s stake in their global joint venture talent and production company, which owns TV super-formats Got Talent and The X Factor, both created by Cowell and which were launched in 2006 and 2004 respectively. This buy-out, personally by Cowell, is the result of a buyback option maintained by Cowell through their joint-venture renewals and a mutual negotiation process. As part of the agreement, Sony Music will retain the JV’s music assets, including its roster of current artists and back catalog.
The agreement for Cowell to personally acquire Sony Music’s share of the joint venture will transfer ownership of all of the television formats to a privately held company to be called Syco Entertainment. Cowell will have sole ownership of this independent entertainment company.
The agreement for Cowell to personally acquire Sony Music’s share of the joint venture will transfer ownership of all of the television formats to a privately held company to be called Syco Entertainment. Cowell will have sole ownership of this independent entertainment company.