The Madrid-based company were confirmed as the winner of a tender process by UIPM, which had been launched back in August.

The ISB will work with a new UIPM Television Commission which, it is claimed, will help ensure the sport is dynamic and engaging on television.

A group of nine companies had reportedly submitted bids into the tender process, with the ISB reportedly emerging as the highest ranked based on five deciding factors.

ISB were selected due to their understanding of the brief, experience in similar sports, evidence of success in similar projects, quality of bid proposal and value for money, according to the UIPM.

Founded in 1996 by Manolo Romero, ISB has served as host broadcaster for many of the world’s leading sporting events, including multiple Olympic and Paralympic Games.

"UIPM had been struggling with its TV product since the day that TV became the most crucial medium for the Olympic movement in the 1990s," said Shiny Fang, UIPM secretary general.

"That is partly due to the unique multi-discipline nature of our sport in multiple venues, as well as the length of the competition.

"But from 2018, we have been able to provide a one-venue concept for all five disciplines to present spectators a more compacted, dynamic view with one seat watching all five disciplines within five hours, as recently happened at the Tokyo Games.

"However, it is still largely an edited live product with highlights and the only live broadcast coming for the laser run.

"From 2022, UIPM will be able to present a 90-minute real live television programme for broadcasters and much wider audiences to really know this historic sport.

"For that, we need a partner with full Olympic experiences and spirit to help us, advise us, and to help us demonstrate the beauty of the sport.

"We are confident that ISB will be that partner.

"UIPM is looking forward to working with ISB’s expert team to explore all the possibilities to show a compact and exciting modern pentathlon programme, allowing more people to know the sport, access the sport, and eventually join in."

The UIPM said the selected company will be responsible for the production and distribution of a signal to television channels and digital stakeholders.

The partner will be required to produce highlights shows for the UIPM, as well as social media clips and other edits as required during events and outside of events.

A total of eight events per year are included as part of the contract, including four UIPM World Cups and the World Cup final.

The Pentathlon World Championships, Biathle and Triathle World Championships, and a Laser Run World Championships are also included.

"After having personally produced modern pentathlon for the Olympic world feed, I am very honoured and excited to be able to create beautiful and dynamic pictures of such an established and historical sport such as modern pentathlon," said Ursula Romero, chief executive of ISB.

"It will be a welcomed and inspiring challenge."

ISB will be the UIPM’s partner for the Paris 2024 Olympic cycle, which is set to feature riding for the final time.

The UIPM controversially announced last month that the discipline would be replaced for Los Angeles 2028 , with a new discipline expected to be confirmed at the governing body’s Congress in 2022.

The UIPM has confirmed its Television Commission will seek to develop creative ideas to enhance the presentation of the sport.

UIPM vice-president and International Olympic Committee member Juan Antonio Samaranch will serve as the chair of the new Commission.

Samaranch currently sits on the board of Olympic Channel Services.

Samaranch will be joined by an Athletes’ Committee representative, while National Federations and the UIPM’s media partners will also feature.

The UIPM Executive Board members for media and marketing will also sit on the Commission.

"I am delighted that these two historic developments have been made for the future of UIPM’s television product," Samaranch said.

"As someone who has watched so closely the dynamic and consistent success ISB have had, it is a potentially transformative agreement to now have ISB turn its expertise to our great UIPM sports.

"ISB have shown vision and invention on so many occasions and that they become UIPM’s partner at this transformational moment for modern pentathlon seems to be a case of perfect timing.

"The creation of a first ever Television Commission is also hugely welcome.

"I am honoured to be the first chairperson of the Commission and look forward greatly to working with our athletes and wider community to ensure UIPM’s television and digital content does justice to our sport and athletes and helps engage all of our existing and dedicated fans and wins millions of new fans along the way."

Nominations for the national federation position must be made to the UIPM by Sunday (December 5).