Simon Cowell launching film company

September 13th, 2010

Simon Cowell is planning to launch a film company.

The music mogul is in the early stage of creating a production company to work on blockbuster hits with a similar feel to 'StreetDance 3D', using the stars already signed on to his payroll.

A source said: "Simon has the Midas touch. This is great for British film. We have our fingers crossed."

'StreetDance 3D' - which starred Charlotte Rampling, Jeremy Sheffield and dance troupe Flawless - made £12 million on its release earlier this year.

The insider added to the Daily Star newspaper: "Simon didn't have anything to do with that film but it was an eye-opener for him."

The 50-year-old businessman - who owns music publishing house Syco, which has Leona Lewis, Alexandra Burke and Joe McElderry on its books - has worked as a producer and writer on various TV projects in the past, including British singing competition 'The X Factor' and 'America's Got Talent'.

He is currently working on a US version of 'The X Factor' after quitting 'American Idol' as a judge earlier this year.

A film loosely based around Simon and his musical TV talent shows has already been made - 2006's 'American Dreamz' starring Hugh Grant as mogul Martin Tweed grossed $16 million worldwide.