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Content Media has inked an ongoing format development deal with Small World IFT.

Agreement allows the pair to create a joint formats portfolio and affords Content the option to take an equity stake in Small World in the future. Deal follows the hiring announcement of Karla Burgos, former CBS Intl. formats coordinator, as Small World’s head of sales and development.

Small World and its founders, Tim and Colleen Crescenti, have launched several formats to the international market including “Dragons’ Den,” “I Survived a Japanese Game Show” and “Silent Library.” Company is currently developing properties including Thailand’s “The Fan,” Romania’s “Miss Country Girl,” and Finland’s “Night Patrol.”

“We really admire how Tim and Colleen go about their business,” said Content topper John Schmidt. “We are excited to begin working with them to grow their business, work on the format rights that Content is acquiring, and tie in with our production businesses at Collins and Jigsaw.” — AJ Marechal