The businessmen are setting up an entertainment company
Sir Philip Green and Simon Cowell, two of Britain’s most colourful and successful businessmen, are to go into business together, setting up an international entertainment company.
Though the pair are old friends and frequent dining companions on the London party scene, this is the first time that they have set up a joint venture. It will be the first time Sir Philip has dipped his toe into the showbiz world, having made his fortune from retailing, running Topshop and Bhs, amongst others.
The business, the Daily Telegraph has revealed, will be based out of London and Los Angeles. It will incorporate the full spectrum of show business, from television production and coming up with new formats for programmes to talent management and merchandising.
Cowell will be in charge of presenting and producing the shows, while Sir Philip concentrates on overseeing the finances, strategy as well as spearheading the merchandising arm.
Sir Philip would not comment, but a source close to the businessman, said: He’s been working on this throughout the night in recent weeks, speaking to people in LA on the phone constantly, and smoking 40 a night. This is going to be a multi-billion dollar international business. This isn’t some hobby venture on the side.
Cowell has been responsible for producing the most popular television show of the last decade, Britain’s Got Talent, which managed to attract 19.2 million viewers for the final in May.
Nothing is signed yet, but Simon is 100 per cent committed to this, said a source close to the deal.
Sir Philip has made it clear to friends that though he is enjoying getting his teeth into a whole new project, he will not step back from his retailing businesses. His foot is still firmly on the High Street pedal, a friend said.