Selena Gomez Selena Gomez

Make way for yet another teen tycoon.

Sixteen-year-old Selena Gomez, she of Disney's Wizards of Waverly Place, has launched her own production company, July Moon Prods., Variety reports.

First on the company's agenda? Teaming with XYZ (is that short for X-amine Your Zipper?) Films to create at least two starrers for the actress.

There's guaranteed to be lots more after that. The partnership with XYZ has a tie-in with Time Inc., who recently signed with XYZ and management-production company Collective to translate its print content for the silver screen. And who gets first access at those projects? Yup, Gomez herself.

Gomez will also have the opportunity to option articles, hire writers and create talent packages to shop to studios.

Oh, so much power for such a young gal.