ITV Studios, the production arm of U.K. TV giant ITV, has sold Tel Aviv, Israel-based formats company Armoza Formats (game show Still Standing, docu-reality series Marry Me Now, singing show The Four), which it had acquired in 2019, back to its founder Avi Armoza.
Financial terms weren’t disclosed, but Armoza will become an independent firm again. The company will keep the exclusive rights to produce ITV Studios formats in Israel, while ITV Studios will retain the rights to the Armoza catalog it acquired in 2019. Ongoing productions won’t be affected by the deal.
In Israel, Armoza’s productions of ITV Studios formats include the likes of the upcoming local version of Love Island for Keshet, as well as Israeli versions of Come Dine With Me and The 1% Club.
“Under Avi’s leadership, shows like Love Island and Come Dine with Me have launched successfully, and I’m really pleased to continue to work with him as he represents our catalog of award-winning formats,” said Lisa Perrin, managing director, international production at ITV Studios.
“Adapting to the changing needs of the market – exploring and finding new ways to do business – has always been at the heart of Armoza Formats,” said Avi Armoza, adding that he was “excited for the next chapter.”
Established in 2005, Armoza Formats “rapidly grew to be one of the top creators and distributors of formats in the international content market,” Armoza says on its website. “Taking the best of Israeli and international creative talent, Armoza Formats spearheads the emergence of compelling content in today’s dynamic market.”
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