HE has been a leader in the music industry for 40 years – but Simon Cowell is astonishingly walking away from his record label in an eight-figure deal.
Simon confirmed he will no longer be involved with Syco Music, having lost acts including Little Mix and One Direction, in recent years.
The final straw came last week as Louis Tomlinson, previously a close pal of Simon, left the label. Simon sold Syco Music to Sony Music in 2005 but remained involved — and now cuts all ties.
He will focus instead on his TV company, Syco Entertainment, which owns The X Factor and the Got Talent shows. In a major new deal, he has bought back Sony Music’s stake in the company.
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