Sony Pictures Television and Colombia's Caracol Television announced on Monday that they signed a three-year co-production agreement to create several television series.

As part of the accord announced in Miami, the two firms will co-produce two primetime series per year, at the same time that Caracol TV will produce local versions of formats belonging to the SPT catalog.

Both parties will share the distribution of the series worldwide.

"Caracol Television's track record of creating, producing and launching successful primetime programming makes them an ideal partner," Donna Cunningham, SPT executive vice president and managing director of Latin America and U.S. Hispanic production, said in a press release.

With 50 years of experience in the television industry, Caracol TV produces 4,000 hours of audiovisual material per year, has 14 studios and more than 10,000 hours of content in its archive and its programs have been broadcast in almost 80 countries, according to company figures.

SPT is one of the largest providers of television content in the world, sells its own formats in about 70 countries and is the owner of the firms 2waytraffic, Embassy Row and Sony Movie Channel.