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Simon Cowell & Sony Music Extend Syco Venture by Six Years

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Simon Cowell - MIPCOM Personality of the Year during a Keynote at Mipcom 2014 on Oct. 13, 2014 at the Palais des Festivals in Cannes, France. 

Simon Cowell and Sony Music Entertainment have reached a deal that will extend their Syco Entertainment joint venture by six years.

The music mogul and X Factor creator announced the renewal late Monday (Nov. 2) during the Music Industry Trusts Awards gala in London. The 24th edition of the gala honored him.

Simon Cowell's Syco Entertainment Brought In $105 Million Last Year

"I'm happy‎ to announce that we have just [struck] a six-year new deal," Cowell said. He thanked Sony Music boss Doug Morris and his team.

Sony Music confirmed the deal to The Hollywood Reporter and Billboard.

‎Syco Entertainment is 50 percent owned by Sony and 50 percent by Cowell. It produces ‎the X Factor and Got Talent formats,‎ among other things. Its music artists include One Direction, Leona Lewis, Fifth Harmony and others.

This article was originally published by The Hollywood Reporter.