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April 8, 2016
NEW YORK — Covington advised Emmy and Golden Globe-winning producer Ben Silverman on the creation of Propagate Content, a media production and distribution company. A+E has agreed to fund the company with $30 million in equity and has committed to buy $15 million in scripted or unscripted projects in a five-year deal.
Propagate has already signed Will.i.am and Apple to produce an unscripted series that will follow the personalities behind the development of Apple Store apps.
Silverman previously served as co-chairman of NBC Entertainment and Universal Media Studios and founded media companies Revelle and Electus. He also produced award winning shows, including “The Office,” “The Biggest Loser,” “Ugly Betty,” and “The Tudors.”
The Covington corporate team included partner Scott Smith and associates Megan Woodford and Norman Greenberg. Advice was also provided by of counsel Carolyn Taylor, associate Jenna Wallace (executive compensation), and partner Rob Heller (tax).