Ant McPartlin and Declan Donnelly have yet to disclose the new formats, but they will more than likely star the award-winning presenters.
The production company is named after a famous area in Newcastle, near the Newcastle United stadium and where the boys used to live.
It will not be Ant and Dec's first foray into TV production. They have previously worked with Zenith to co-produce Saturday morning children's show 'SM:TV' for ITV.
"The real big learning curve for us was 'SM:TV'. We came up with this idea for a Saturday morning show, got it commissioned, then it was hurray, we've got the 52-week commission for a Saturday morning. Shit. What do we put in it?" Donnelly told The Guardian.
The boys, who recently signed a three-year golden handcuffs deal with ITV, are talking to production partners and individuals about developing their ideas.
The two are also executive producers on their hit ITV show 'Ant & Dec's Saturday Night Takeaway', which regularly secures more than 8m viewers.
Next month, Ant and Dec head down under to the Australian outback for the fourth series of ITV's 'I'm a Celebrity... Get Me Out of Here!'.
On the horizon, there is 'Pop Idol', which may be rejuvinated next year with the Geordie duo back as presenters.
ITV said the pair's individual appeal reaches out to everyone from children to grandparents.
Nigel Pickard, ITV director of programmes, said: "They have a unique appeal to our audience and are loved by everyone from kids to grannies. They are immensely talented presenters who really do get better with every series. And as everyone who meets or works with them knows, they're also incredibly nice guys."
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