X Factor 2010 winner Matt Cardle has become the first winner to sign a 50/50 contract with another major record label by agreeing to a joint deal with Columbia along with his current deal with Simon Cowell's Syco label. The deal will see Syco give half the control of Matt's career to the other major label.
In a surprising move, Columbia who are already in charge of major acts like Kasabian, Kings Of Leon and Alexis Jordan will also get half the responsibility for the 27-year-old Southampton based singer/songwriter. Tabloid newspaper The Sun reports that the UK branch of the major record company were approached b y the music mogul due to their good track record with indie rock artists.
A source close to Cowell told the paper: ''It's very unusual for Simon to give up control on projects he really believes in. But even he knows where his limits lie. He's hopeful Matt can become the first credible rock artist to emerge from The X Factor and realises he needs the expertise at Columbia to make that happen.''
Continuing on, the source explained: ''Simon has always closely guarded the careers of previous X Factor winners including Leona Lewis and Alexandra Burke. They were 100 percent signed to his label Syco but Matt will be a 50/50 venture with Columbia.''
A spokesperson for Matt confirmed the rumours adding: ''Matt has signed a joint record deal across both Columbia and Syco Music. His debut album will be released as a joint venture between both Sony labels, with Simon Cowell remaining very much involved in the release later this year.''
Previous winners such as Leona Lewis and Alexandra Burke have signed additional contracts with Sony owned labels with Burke signing to Epic in 2009 and Lewis signing to Clive Davis owned J Records in 2007. ]
Are you excited by the news? Do you think this may mean that Matt will be the first male winner to follow in the footsteps of Leona and Alexandra or do you think the latest news is just to get Matt back in the limelight until his album is released? Please tell us!