Global entertainment company Content Media Corp says it has signed an ongoing strategic deal to develop a joint formats portfolio with Los Angeles-based formats company Small World IFT. The agreement will also give Content the right to take up an equity stake in Small World at a future date. Content’s management team and sales executives will work closely with Small World founders Tim and Colleen Crescenti to continue Small World’s success and build a global formats sales company, according to a release. In another development, Small World announced the hiring of Karla Burgos from CBS International as its new head of sales and development. Burgos had been the formats coordinator at CBS International for the past four years.