Simon Cowell 'wants to own himself'

The purpose of the transatlantic media company planned by Simon Cowell and Sir Philip Green is to allow Cowell to have full ownership of all his work, it has been claimed.

According to The Guardian, Cowell will use the proposed organisation to secure all the financial benefits of his productions.

At present, the reality show judge is said to only receive a performance fee for his work on American Idol, the talent programme created by Simon Fuller, while Cowell's major contracts with UK broadcasters are also said to be ending soon.

One source said: "He is past the old-style music deal, where you take a cut as a performer. This is about properly owning himself, Brand Cowell, everything he does, new formats, and new programmes, not just the ones starring him."

A former executive added: "Simon is very, very careful, he thinks everything through, and he's been pondering his next steps for a long time. Cowell really respects and looks up to Green. He's a sort of father figure to him."

A member of the Philip Green camp denied suggestions that the purpose of the new company was to purchase ITV.