Italian Old Style, designed by Frederic Goudy in 1924, is not to be confused with the English Monotype font also called "Italian Old Style", which is an earlier design from 1911 based on William Morris's Golden Type that is based on Nicholas Jenson's Roman face. Goudy went back to Jenson's original Roman and other Renaissance Roman faces for his inspiration and the result is what many consider to be the best Renaissance face adapted for modern use.
Italian Old Style was digitized by Paul Hunt for LTC in 2007. The light weight styles were digitized from larger display sizes (14, 18, 24, 30, 36 pt) and the regular weights were digitized from smaller composition sizes (8,10,12 pt.). The fitting for the regular weights is noticeably looser to allow for better setting at small sizes. Very few font revivals take this approach.
In 2013, the family was updated by James Grieshaber and is now offered as a pro font. The newly expanded pro fonts include all of the original ligatures, plus small caps and expanded language coverage in all 4 pro styles. Also included in the Regular Pro and Light Pro styles is a set of Ornaments designed by Bruce Rogers- Italian Old Style admirer and designer of the original 1924 specimen book which contained his trademark ornament arrangement.