Britain's Got Talent boss Simon Cowell is about to join up with Sir Phillip Green to create a "multibillion-dollar" international entertainment company, says a report.
A source told The Sun that the tycoons want to build a US-based entertainment giant, which they are calling Greenwell, with the aim of challenging Disney.
It has been reported that Cowell will be responsible for the production of the firm's shows and that Green will use his considerable retail experience to run the merchandising arm and finance for the venture.
Sir Philip is a British billionaire businessman who owns some of the UK's largest retailers, including Bhs and the Arcadia Group. He is Britain's ninth richest person with assets worth around £4.43bn in 2008. He owns 2300 shops in the UK and his assets currently control 12% of the UK clothing retail market, making his empire the second-largest in the sector. The leader, Marks and Spencerhas been the target of three unsuccessful takeover bids from Green.
It is believed that the new firm will own all the rights to Cowell's hit shows, including Britain's Got Talent and The X Factor.
Cowell is said to be "100%" committed to the new deal, although the company has not been formed.
A source close to Green 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."
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