Freshly filed accounts have revealed that Sony’s six-year deal with Simon Cowell’s Syco in 2015 was worth £86m with the major company tripling its share to 75%. The length of the new deal was revealed by Cowell during his MITs acceptance speech, with numbers spotted by British tabloid Daily Mail via a January filing at Companies House.
£52.4m of that £86m was paid in 2015, with a further £33.4m due before 2021. Cowell’s share is down from 40% to 20% as a result, with Sir Philip Green also taking a 50% cut from 10% to 5%.
The TV and music firm that encompasses label Syco and the X Factor and Britain’s Got Talent franchises made £1.46m in the 39 weeks to March 2016.
SONY PARTS WAYS WITH DR. LUKE
Kemosabe CEO out on the heels of legal battle with Kesha. (4/26a)
TOP 20: IT'S FIVE MORE, INNIT?
Kendrick continues. (4/26a)
CHART BATTLE BREWING?
Stapleton vs. Logic: it's on. (4/26a)
Beyonce the benefactor. (4/26a)
411 ON THE 6-1-5
Shania's got a new album. (4/26a)