Music mogul Simon Cowell has sold part of his Syco label for a phenomenal sum of money. 

New documents reveal that Cowell has signed a deal giving Sony a portion of his entertainment empire for £86 million. Syco, of course, owns the rights to the wildly popular Britain's Got Talent and X Factor talent shows and is currently home to the likes of Little Mix, James Arthur, Fifth Harmony, and Susan Boyle. 

Sir Philip Green, the retail tycoon, was a 10% shareholder in Syco so he will also benefit financially from this new development. 

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Watch an interview with Simon Cowell below: