You always return to your first love: ITV Studios, the production arm of U.K. TV giant ITV, has sold Tel Aviv-based company Armoza Formats — which backed game show "Still Standing", docu-reality series "Marry Me Now" and singing show "The Four" — back to its founder Avi Armoza.
Financial terms weren’t disclosed, but Armoza will become an independent firm again only a few years after ITV had acquired in 2019. 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.
Lisa Perrin, managing director, international production at ITV Studios praised the founder's leadership and vision: “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,” stated.
Avi Armoza himself conveyed his feelings about this new challenge: "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. Iam xcited for the next chapter," : “commented.