Yahoo is teaming up with Simon Cowell for a new music competition: a series called Ultimate DJ, which will have up-and-coming electronic DJs battling for a Sony Music record contract and a headline spot at a major music festival. The show, announced on Variety, is one of many that Yahoo is unveiling tonight at a digital content and advertising presentation in New York City. Cowell, who created The X Factor and was a longtime judge on American Idol, obviously knows his music competition shows, making him a star partner for this project. He’ll be executive producing the show. There will also be a tie-in with Tumblr, which will allow viewers to vote on the show live.