As the networks step up their interest in overseas formats, 20th Century Fox TV has sealed a production and programming pact with the top-rated U.K. commercial network/producer ITV.

Under the deal, 20th will get a crack at mining ITV's roster of series for potential development in the U.S., while ITV will do so likewise with 20th fare in the U.K. First up: ITV has already started developing a British version of 20th's 1990s ABC hit "Dharma & Greg."

The two companies have also launched a joint development fund to create new programming to either produce together or separately for international distribution. Twentieth and ITV will co-finance the Shared Development Group, as the venture will be called.

In putting together the deal, 20th chairs Gary Newman and Dana Walden negotiated with a familiar face: ITV managing director for global content Lee Bartlett, who had headed up business affairs at sister network Fox until earlier this year.

"We're interested in expanding our creative reach around the world," Walden said. "ITV has a similar brand; they're creatively adventurous. And having Lee there expedited the process."

New pact reps the first big initiative from Bartlett since he was officially elevated to his new role at ITV. Bartlett joined in April as chief operating officer of ITV global content but was quickly tapped to succeed Dawn Airey after she ankled.

"This agreement presents tremendous opportunities for a trans-Atlantic cross-fertilization of ideas and talent," Bartlett said.

With U.S. networks looking to alter traditional production and business models, Bartlett said he believed the timing was finally right for such a U.S.-U.K. TV programming venture.

Bartlett pointed out that 20th, in creating an alliance with ITV, now has access to the largest private TV producer in the U.K., including a large production infrastructure.

"This is a company that will introduce us to and nurture relationships with great writers and directors in the U.K.," Walden said.

Twentieth hasn't yet identified any ITV properties to translate for U.S. auds. Across the pond, "Dharma & Greg" made sense for U.K. auds, Bartlett said, because of the class differences between the two main characters' families -- a common theme in the U.K.

Bartlett said the U.K. shows will likely take pre-existing scripts from the U.S. shows but rewrite them to reflect British sensibilities.

As for co-production opportunities, Walden said she's hoping to model the relationship after successful theatrical co-productions, "where we're genuinely co-producing things (for both audiences)."

Twentieth's Ann Johnson and Steve Sicherman and ITV Prods.' Kate Bartlett and Saurabh Kakkar to head up the Shared Development Group.

Meanwhile, ITV's Granada America will continue to operate as it always has, selling to multiple outlets in the U.S., but Bartlett said there may also be opportunities for 20th and that shingle (led by Paul Buccieri) to work closer together.