lizann
15-07-2009, 12:22
Simon Cowell, the media mogul, is reportedly negotiating a £100 (€116) million-a-year contract on the talent show American Idol, which would make him the highest paid television star ever.
If the deal with the American network Fox goes ahead, Cowell, 49, will quadruple his current £25 (€29) million annual pay, netting him £2.2 (€2.5)million for every hour he appears on screen.
The programme's host Ryan Seacrest clinched a new three-year deal on Tuesday which sees his pay trebled to £30 (€35) million.
Cowell's deal is being thrashed out by Cowell's new business partner Sir Philip Green, the Topshop owner, according to the Daily Mirror.
A Fox insider told the newspaper: "The word went out from on high to pay Simon what he needs. Without him the show would be a shadow of itself and without American Idol, we're in the dumper. We're confident of getting our man."
Fox is reported to make £450 (€524) million a year from advertising and sponsorship on American Idol.
The Daily Telegraph disclosed last month that Cowell and Sir Philip were going into business together, setting up an international entertainment company.
Though the pair are old friends and frequent dining companions on the London party scene, this is the first time that they have set up a joint venture.
The business will be based out of London and Los Angeles. It will incorporate the full spectrum of showbusiness, from television production and coming up with new formats for programmes to talent management and merchandising.
Cowell will be in charge of presenting and producing the shows, while Sir Philip concentrates on overseeing the finances, strategy as well as spearheading the merchandising arm.
:eek: that is some amount of moolah
If the deal with the American network Fox goes ahead, Cowell, 49, will quadruple his current £25 (€29) million annual pay, netting him £2.2 (€2.5)million for every hour he appears on screen.
The programme's host Ryan Seacrest clinched a new three-year deal on Tuesday which sees his pay trebled to £30 (€35) million.
Cowell's deal is being thrashed out by Cowell's new business partner Sir Philip Green, the Topshop owner, according to the Daily Mirror.
A Fox insider told the newspaper: "The word went out from on high to pay Simon what he needs. Without him the show would be a shadow of itself and without American Idol, we're in the dumper. We're confident of getting our man."
Fox is reported to make £450 (€524) million a year from advertising and sponsorship on American Idol.
The Daily Telegraph disclosed last month that Cowell and Sir Philip were going into business together, setting up an international entertainment company.
Though the pair are old friends and frequent dining companions on the London party scene, this is the first time that they have set up a joint venture.
The business will be based out of London and Los Angeles. It will incorporate the full spectrum of showbusiness, from television production and coming up with new formats for programmes to talent management and merchandising.
Cowell will be in charge of presenting and producing the shows, while Sir Philip concentrates on overseeing the finances, strategy as well as spearheading the merchandising arm.
:eek: that is some amount of moolah