Tarrant to present new ITV1 quiz

Tarrant started presenting Who Wants To Be A Millionaire? in 1998

Who Wants To Be A Millionaire? host Chris Tarrant is to front a new prime-time quiz show on ITV1.

The Colour of Money features 20 coloured cash machines containing cash amounts between £1,000 and £20,000.

Contestants choose 10 machines. As each second ticks by, cash that can be withdrawn increases by £1,000.

The longer they hold their nerve, the more cash they win - but if they are too greedy, the machine is locked down and they end up with nothing.

"It's a simple format and creates much tension," said the 61-year-old former DJ.

He is the master of tension and suspense and is the perfect choice for this new series Paula Warwick ITV Entertainment

"It seems so easy, but our coloured cash machines prove there's not always a pot of gold at the end of every rainbow."

ITV's Paula Warwick said the network was "delighted" to have Tarrant at the helm of the show, to be launched next year.

"He is the master of tension and suspense and is the perfect choice for this new series," she added.

Tarrant, who made his name on 1970s children's show Tiswas, landed the compere's role in Who Wants To Be A Millionaire? ten years ago.

The show, which offers contestants the chance to win £1m by answering 15 questions of increasing difficulty, delivered ratings of almost 18 million at its peak.