Sports & Celebrity Newswire

Is Simon Cowell on his way to becoming a billionaire? Cowell has signed a $500 million, two-year deal with Sony, this week as he launches SycoTV. He will produce and sell the formats to “X-Factor” and several “Got Talent” shows. The Sony deal will push the “American Idol” music mogul’s worth close to the $1 billion mark.

Cowell told press, “I have had a fantastic relationship with Sony for many years and I’m delighted we are launching this venture together.”