LONDON and NEW YORK – Simon Cowell and Sony Music Entertainment today announced the creation of a new long-term global venture to focus on the production and exploitation of music, television, film and digital content.

The new venture will own all of the existing Syco television and music assets, which include the global TV franchises “The X Factor” and “Got Talent”, as well as superstar artists such as Leona Lewis, Susan Boyle and Il Divo. The new venture, which will continue to use the “Syco” name, will be co-owned by Sony Music and a Simon Cowell-owned company. Syco will be based in London and will also have offices in Los Angeles.