Show co-creator Roger Law will lead the revived programme's creative team.
Producers say: "With the world getting smaller and more turbulent, the time couldn't be more appropriate for an iconic British satirical take on global events."
Development of the new puppets is already underway with Dominic Cummings, James Corden, Donald Trump, RuPaul, Boris Johnson, Beyoncé, Elon Musk, Harry & Meghan, Bernie Sanders, Prince Andrew, Adele, and Vladimir Putin all falling under the show's legendary gaze.
Producers tease: "A next generation of satirical writers and voice artists are currently being assembled to drive a new wave of 'public service satire'. In keeping with the 80s and 90s, some scripts will be written and new puppets made close to delivery to ensure each week's episode is as topical as possible."
Roger Law says: "PUBLIC SERVICE SATIRE ANNOUNCEMENT. I've refused to resuscitate Spitting Image for years but when my pension ran out and my palm was crossed with silver what could an old man do? The new Spitting Image will be global through a uniquely British eye, it will be more outrageous, audacious and salacious than the previous incarnation. With scandalous scripts and A-List characters, it will be the people's programme!
"When Dominic Cummings finally gets the boot, Spitting Image will give him a job. We've always employed weirdos and are sure Dom will be a great asset, he seems to hate politicians as much as we do. We will take back control from the likes of BoJo, Trump, Harry & Meghan, Elon Musk and Kim Kardashian. We will be dazzled and amazed by Jurgen Klopp & Beyoncé; we will have regular weather updates from our roving reporter Greta Thunberg. The timing is right, the puppets are ready, the people have spoken. And the message for the doomsayers and gloomsters is, this Autumn we will get BritBox done!"
Reemah Sakaan from BritBox says: "We cannot wait to bring back Spitting Image. BritBox is the natural home for the sharpest satirical wit and craft in the UK industry. The timing couldn't be better to present a new series on a new service with a uniquely British point of view."
Kevin Lygo, the Director of Television at ITV and lead commissioner for BritBox Originals, adds: "We are thrilled that BritBox can provide the opportunity for British creativity to truly run wild, and we are looking forward to enticing new subscribers with the new series and service."
The episodes are being made by Avalon, the production company behind formats including The Russell Howard Hour and Harry Hill's TV Burp. Executive producer Jon Thoday says: "With the world becoming an ever smaller place I am delighted BritBox have the ambition to keep the UK at the centre of international satire."
The original series was made by ITV franchise-holder Central Independent Television, which is now part of the wider ITV group.
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