The X Factor boss has teamed up with executives at Yahoo for a new competition show called Ultimate DJ, a live contest in which promising electronic music DJs compete for the grand prize of a Sony Music recording contract and headlining spot at a major music festival.

Executive producer Cowell was at Yahoo's NewFronts presentation in New York on Monday (27Apr15) to reveal his latest project, saying, "Electronic music is one of the most important genres around the world and we want to respect what's happening around the world."

Executives at Yahoo also announced plans for a new scripted original series called The Pursuit, which was described as a "21st century take on Friends". The project will be executive produced by Ted producer Scott Stuber and Modern Family director Beth MCCarthy Miller.

Also joining the Yahoo roster are supermodel Naomi Campbell, who will front a series called I Am Naomi, and Fast & Furious star Michelle Rodriguez, who will host an automotive-centred programme called Riding Shotgun with Michelle Rodriguez.