It’s been the battle of the soda giants: Coca Cola ("The Pause That Refreshes" in an old slogan) Vs. Pepsi ("For Those Who Think Young" in an old slogan) to be one of the sponsor’s of Simon Cowell’s upcoming "The X Factor" music reality show.
And the winner–for more than $60 million–is Pepsi, reports the Los Angeles Times.
According to the article, Pepsi CEO Massimo d’Amore said, "Our people, at the time, did not see how big ‘American Idol’ was going to be. We lost a lot of momentum and the competition gained it." He predicted that the soda company would soon begin a "renaissance" with the help of "X Factor."
Cowell said in a phone interview that he hit it off with Pepsi executives, noting that he was pleased that they were aggressive in seeking sponsorship rights. "I like working with hungry people," Cowell said, according to the piece.
Also, Massimo d’Amore notes that the company is "not happy" with news expected to be released today, Thursday, March 17, 2011, that Pepsi has been knocked to the No. 3 spot in U.S. sales of sparking sodas from second place, with Diet Coke taking the No. 2 slot. Coke is No. 1.