One Direction, two bands, and a whole lot of confusion. The music industry was rocked this week by a lawsuit from a band claiming that it was working under the name One Direction well before the U.K.

Simon Cowell regrets he didn’t keep the ownership of the boy band One Direction’s name. “The one thing I regret is I should have kept the name,” Cowell, 64, admitted on The Diary of a CEO podcast on ...