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Topshop Billionaire on Venture with Simon Cowell

Topshop owner and retail billionaire Sir Philip Green has spoken to CNBC about his closely-guarded business venture with Simon Cowell, the American Idol star, saying details will be available soon.

The venture is "work in progress" and we will hear more "hopefully before the end of the year," Green told CNBC.

Rumors first surfaced in late June that Green and Cowell were working together to create a global entertainment group – but both parties have been tight-lipped about any details.

It was speculated that the pair, who are also close friends, will create a venture that will hold all the rights to Cowell’s hit TV shows – as well as allowing Cowell to roll out entertainment concepts worldwide.

Asked by CNBC if this venture should be something that big media companies – like CNBC parent NBC Universal – should be watching, Green said: “There's a vision. I think it would be fair to say that Simon's got a proven track record in the market place of producing winning shows. Hopefully outside of the TV area there's things to do in a lot of other areas in relation to the program, the brand.”

"What else can we do? Let's see what we can develop. Work in progress. My night job," he added.

- Watch the Sir Philip Green comments above.

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