Cowell, 64, spoke to Steven Bartlett on The Diary of a CEO podcast on June 10 about his latest search for the next boy band and said that he doesn't think that One Direction will ever get back together.
One Direction, which was comprised of Harry Styles, Zayn Malik, Louis Tomlinson, Niall Horan, and Liam Payne, announced in December 2015 their plans to go on hiatus the following spring. Cowell and Nicole Scherzinger played a major role in forming One Direction on reality competition series The X Factor in 2010 after all five members initially auditioned to be solo artists. Cowell eventually signed the band to his former record label, Syco Music.
During the podcast appearance, Cowell, 64, said that each of the five former band members owns a percentage of the One Direction name. "If one band member says for whatever reason that they don't want to tour, it can stop the others from touring," said Cowell.
Cowell also shared his regret over not owning the name himself. He explained that, if he owned the One Direction name, "You could do a tour with three of them" rather than making all the original members come back. "If you're listening, I'll buy it back from you," he joked.
Asked if he feels the band would ever reform, Cowell said, "I doubt it."
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Styles, Tomlinson, Horan and Payne have all previously expressed interest in a potential reunion over the years, but no official plans have been made.
During the podcast, Cowell also recalled realizing early on that the One Direction members had star power. He reminisced about a time when the group was on a beach in Spain and "everyone [was] looking at them." Recounted Cowell, "It's unbelievable. Everyone is looking at these five boys as if they're already stars."
Rolling Stone confirmed on June 4 that Cowell is planning to host auditions across the U.K. next month to find members for a new boy band sensation. He'll create a documentary series around the whole process, from auditions to forming the group.
"I'm doing it because right now, because in my opinion, I don't think a band has been as good as One Direction since One Direction," Cowell said on The Diary of a CEO. "If you look at the amount of solo artists versus bands right now in the world of pop music, it is unbelievable."
Explained Cowell, "The only way I know [how] to put a band together is somebody has to audition. So we just thought 'you know what, if I don't do it this year, I'm going to really regret it."
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