Simon Cowell Sells Latino Boy Band Reality Competition to Univision

"La Banda," from the reality vet's Syco Entertainment, will debut on the Spanish-language network in 2015.

Simon Cowell has created another music competition.

The executive producer and TV personality, who recently announced development on a DJ talent show, is now producing a boy band competition for Univision.

La Banda, from Syco Entertainment, will search both U.S. and Latin American markets to put together "the ultimate Latino boy band." It's the first big sale for Cowell since Fox canceled X Factor in January, leaving the reality kingpin without an on-air stateside gig for the first time in over a decade.

There is no word on who will serve on the series' judges panel, but it is slated for a 2015 premiere on Univision Network.

"I'm delighted to be partnering with Univision on this new format," said Cowell, who took the stage during Univision's Tuesday upfront in New York. "They are fantastically ambitious, and most importantly for La Banda, they are totally focused on discovering and creating the next music superstars. There is a huge opportunity for this band, and we are going to be giving the power via this show to the millions of teenage fans.

The winning group will get a record contract with Sony Music Latin and Syco Music -- the latter being the home of X Factor alums (and the biggest-selling boy band of the moment) One Direction.

Cowell's recent U.S. setbacks don't diminish his significant reach across the globe. The Got Talent format is in 63 counties, and X Factor is still in 46.

“Univision’s collaboration with Simon Cowell’s Syco Entertainment is part of our commitment to innovation and to raising the bar in entertainment for our audiences and partners,” said Univision president of programming and content Alberto Ciurana. "La Banda will tap into Hispanic America’s passion for music unlike any other program on television and will bring millions of fans the next international musical sensation.”