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"This show will comb the world to find a new breed of talent," Pinkett-Smith said in a statement. "I am happy to be creating it alongside Simon Cowell, the Sony Team and my partner Miguel Melendez, on behalf of the Overbrook family."
This is the latest business venture for the Smiths. On October 6, it was reported that they sold a sitcom to ABC studios about singer Anthony "Romeo" Santos. Days later, on October 18, the couple became part owners of the Philadelphia 76ers.
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This power couple may be onto something in teaming up with Simon Cowell on this project. Think "American Idol," which has been on television for 12 years now, "X-Factor" U.K., and of course "X-Factor" U.S., which crowned Melanie Amaro as the champion in early December.