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Simon Cowell and Simon Fuller are two of the executives up for a one-off Music Week award.
They are joined by the likes of Richard Branson, Sir George Martin, Michael Eavis, Beggars' Martin Mills and Island's Chris Blackwell on the 20-name shortlist for the most influential UK-based industry executive.
Editor Paul Williams said: "To try to come up with a definitive list of the 20 most influential UK music industry executives of the past 50 years is virtually an impossible job because there are so many other names than those selected that could have made the grade.
"However, the judges have come as near as is possible to create such a list."
A source told The Sun: "There has been some bad blood between [Cowell and Fuller].
"Things have cooled over the last few years but they are still bitter rivals. They are fierce competitors, always have been and always will be."
They added: "Simon Cowell always likes to distance himself from awards ceremonies. He would love to get one over on Simon Fuller though, and vice versa.
"They are competitive men and want to win in everything they do."
Other nominees at the April 8 awards include representatives for Michael Jackson, Stereophonics, Coldplay, Paul Weller and AC/DC.
