UK prodco ITV Studios and South Korea’s CJ E&M have brokered a co-development deal to create a new entertainment format for the global market.
The collaboration will see the two companies produce the new series in their own territories. CJ E&M, a content and media company, will manage and distribute the new formats across Asia while ITV Studios Global Entertainment will handle the show across all other regions.
“This is the natural next step for our relationship with CJ E&M. By bringing together some of the creative minds and distribution strength from each of our businesses we’re making the very best of our respective expertise. We think this will lead to something really interesting and new for broadcasters all over the world. In fact, we’ve made significant progress and expect to launch the fruits of our creative collaboration to the international market at MIPCOM,” said Mike Beale, EVP of global development & formats for ITV Studios, in a statement.
The deal was closed by Beale (pictured) and Hyeonza Hong, SVP sales, Asia for ITVS GE and D.J. Lee. the president of media content business and Chul-Yeon Kim for CJ E&M.