Simon Cowell agreed to acquire remaining stake in Syco Entertainment, a production company, from Sony Music Entertainment, an American global music conglomerate. Financial terms were not disclosed. "At this particular contractual crossroads, it was simply the right thing for Simon to take control of his TV assets and propel his company in a new direction. Sony Music has had incredible global success with so many artists that have been launched through Simon’s vision and innovation and we are proud to continue to represent the Syco music catalogue and its artists. On a personal note, it has been an amazing adventure working with him as we have shared so many exciting pop culture moments as friends and partners," Rob Stringer, Sony Music Group Chairman.