Simon Cowell is negotiating a mega-bucks TV production deal with Fox that would keep him exclusively with the network for five years, RadarOnline.com has learned exclusively.
The face and personality of American Idol has teamed up with British retail tycoon Sir Philip Green to develop a television business that will immediately have a big impact on Hollywood.
They have been in discussions for more than 10 weeks and sources close to the situation tell RadarOnline.com exclusively that a deal will likely take another eight weeks.
Cowell and Green have been close friends for years and Cowell wants Green to make sure that profits are maximized by merchandising each show to its fullest potential.
Negotiations with Fox are centered around Cowell and his new partner making more shows for them. It is highly likely that X Factor, Cowell’s show in England, will come to U.S. TV by the second half of the new season, a source told RadarOnline.com exclusively.
Cowell and Fox are currently in negotiations to keep all of the shows of his new TV production company exclusive to Fox. That would include some imports, like X Factor as well as new shows. Talks have also raised the possibility of Cowell extending his role on Idol.
Sony still would be part of any new Fox deal that is finalized.
Cowell’s contract with Idol is up after next season. Profits from the hit show go to Sony and Simon Fuller’s company 19. But if Cowell concludes this deal he and Green will have the ownership stake in the new shows, a stake that could make them one of the biggest players in the U.S. TV market.
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