Today’s News: Our Take – Simon Cowell Getting $42 Million for The X Factor and Other Ventures

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Simon Cowell | Photo Credits: Mark Davis/Getty Images

It turns out that the $5 million recording contract that Melanie Amaro received is a relative pittance compared to the $42 million Simon Cowell is getting for The X Factor and other enterprises.

The Guardian in London, citing corporate papers filed last week, reports that Cowell, the show’s creator and alpha judge, made that amount in a deal with Sony that set up a joint venture for his entertainment businesses, which include the Fox network amateur-singing competition.

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For its 50 percent share in the new Syco Entertainment, Sony anted up some $49 million and turned over its ownership stakes in two of Mr. Cowell’s other entertainment properties. Cowell received $42 million of that money by handing over the shares of another company under his control.

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The first season of The X Factor culminated last week with the 19-year-old Amaro becoming the champ.

Some 12.45 million viewers watched the finale, well shy of the 20 million that Cowell and Fox executives — who called the show “the biggest show on television, the biggest show in the world …” — predicted with great bravado last summer. The numbers were barely half of American Idol‘s.

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The show already is slated to come back for Season 2; despite falling short of lofty ratings goals, it did better than most other prime-time programs. But some changes may be coming. There’s speculation that judge Nicole Scherzinger won’t return, and host Steve Jones could be going the way of Brian Dunkelman.



View original Simon Cowell Getting $42 Million for The X Factor and Other Ventures at TVGuide.com



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