Walsh: 'Jedward switch is Sony's loss'

John & Edward's manager Louis Walsh has reaffirmed his faith in the X Factor stars following the news that they have switched record labels.

Yesterday, it was revealed that the pair had signed a deal with Universal after being dropped by Sony after just one single release.

Discussing the development, Walsh told Metro: "It's Sony's loss and Universal's gain. F**k 'em! Alarm bells started ringing when Sony signed them to the Arista label. I tried to call them the other day and no-one in the company knew who they were!"

Of John & Edward's new bosses at Universal, he continued: "They are the same people behind Cheryl [Cole] and Boyzone, and say the boys will be huge.

"The lads will easily make a million each out of this. I think we can make them big internationally. They are huge over here and still have a massive cult following on YouTube."

Walsh also confirmed that he has TV advertising deals lined up for the brothers and that music will only be "a small part" of their plans in the months ahead.