So, Simon Cowell and Sir Philip Green are set to take over the world with a multi-billion dollar international television business that they hope could become bigger than Disney.

The new TV production, talent management and merchandising company will reportedly be based in Los Angeles and London, and own all the rights and content of Mr Cowell’s hit show; Britain’s Got Talent, X factor and American Idol.

The move surprised the City today but surely it has been quite a while coming.

The men have been good pals for the past ten years, seen together dining at Scots, charity fundraisers and holidaying at the Sandy Lane resort in Barbados. Both are at the pinnacle of their respective careers. One is the biggest player in television, the other in retail. One has a knighthood and for the other, it is only a matter of time.

So far, Sir Philip has resisted investing in showbusiness - deeming it too fragile an industry – but teaming up with Mr Cowell is a money match made in heaven.

The venture will be a springboard for new programming devised or produced by Mr Cowell, with Sir Philip providing business advice. The deal would make Mr Cowell even better paid than Oprah Winfrey and one assumes, be a pretty useful way to steer yet more customers towards Topshop and other stores in Sir Philip’s empire.

I guess it was either the television business or Mr Cowell modeling for Topshop. Now that really would be worth billions – and er something I would quite like to see (but that's another story).