New launch by Spice Girls creator Simon Fuller

MEDIA mogul Simon Fuller, who launched the Spice Girls and Pop Idol, is to launch a new entertainment company.

• The Spice Girls' rise to global stardom is among Simon Fuller's many media triumphs to date. Picture: PA

The TV guru – one of the most powerful figures in the entertainment world and estimated to be worth 300 million – had been expected to step up to run US firm CKX, to which he sold his company, 19.

But he has now said he will set up a new venture, although he will continue to work with CKX on a number of projects – including American Idol and So You Think You Can Dance – on a profit-share basis.

Fuller built up 19 managing acts such as Eurythmics, and later Annie Lennox as a solo star, and building the Spice Girls into global stars. He also created S Club 7 and their hit TV shows, and his company has guided the careers of the likes of Will Young and Kelly Clarkson. His company also manages David and Victoria Beckham and tennis ace Andy Murray.

His new deal with CKX will see him continuing to oversee its global online series If I Can Dream, and he will give "general consulting services" to the company.

Fuller said: "This is the beginning of another important chapter in my life. As an entrepreneur I feel I am about to enter my prime years."