Sony Music will retain Syco Music's back catalog and roster of artists.
Simon Cowell and Sony Music Entertainment have agreed to end an 11-year joint venture that produced hit TV franchises including Got Talent and The X Factor, and acted as a pipeline of new talent signed to the major label group.
The pending uncoupling is part of buyback option initiated by Cowell, who will retain Sony Music’s share of the TV assets which he’ll then manage as part of a privately held company called Syco Entertainment. Sony Music will keep the JV's music assets, namely Syco Music's back catalog and roster of artists — which over the years has included One Direction, Camilla Cabello and Little Mix.
Cowell created X Factor in 2004 and Got Talent two years later. In between those launches, he sold his share of Syco Music and Syco Television to Sony Music Entertainment. The two parties launched their joint venture in 2009, with a key stipulation that gave Sony’s family of labels exclusive signing rights to artists featured on the Syco TV shows.