Media Coverage
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
01.16.18
Pillsbury Corporate partner Stephen Amdur has advised global merchant bank The Raine Group as it makes a significant investment in Propagate Content, an international content development, global distribution and production company. Founded in 2015, Propagate has quickly grown into a major indie studio, with 17 series in production and 40 projects in development at more than 21 networks and streaming services.
According to a Propagate statement, the company will use the Raine capital to accelerate growth globally through the launch of innovative new ventures and targeted acquisitions. The investment will allow Propagate to expand its worldwide production, distribution and digital businesses, including the formation of a branded content studio division and podcast network, in addition to growing its footprint with the launch of business units in Latin America, Asia, India and the Middle East.
The Raine Group is well-known for its partnerships with creator-driven media and entertainment companies. Past Raine investments include Vice Media, Imagine Entertainment, Matt Stone and Trey Parker's Important Studios, fantasy sports operator Draft Kings and action sports company Nitro Circus. With this transaction, Raine joins A&E Networks as Propagate’s principal investors.