Simon Cowell 'X Factor' Deal Will Make Him A Billionaire

Simon Cowell photo credit INFDaily.com.

Cowell to enter "rich superleague" after reclaiming rights.

While we still can't imagine American Idol without Simon Cowell (uh, La Toya Jackson wants his seat?), Cowell is already licking his chops for what's next in his American X Factor endeavor. He made another savvy business move late last week that's set to put billions in his pocket.

In a music industry that just keeps tanking, Simon Cowell is cashing in. On Tuesday, 50-year-old Cowell announced with Sony that together, they'll "produce and exploit" X Factor and Britain's Got Talent-related content through film, television, music and digital media. Sony is partnering with Cowell in what's said to be a billion-dollar deal to co-own all of Cowell's existing properties and launch new stars and business ventures. A source said, "This will make Cowell a dollar billionaire. It will send him into the rich superleague."

What does this mean for us? We'll see Simon Cowell's product coming through more than Fox. He was the genius behind the Susan Boyle viral explosion via Britain's Got Talent, as well as last week's craze for "Pants On the Floor," the American Idol audition that launched a thousand remixes. (Check it out right here -- the judges go crazy!)

So with Simon's brains and Sony's muscle, brace yourself for more Syco genius. Supposedly he's bringing Girls Aloud's Cheryl Cole with him to X Factor (she's the British pop star known as this decade's answer to Posh Spice), as well as...oh yeah...Paula Abdul.

Hey Simon Cowell, will you marry me?