Raine Takes a Stake in ‘Planet of the Apps’ Creator<br />Propagate was founded by Mr. Silverman, who is best known as the former NBC Entertainment co-chairman<br />and the television producer who brought “The Office” and “Ugly Betty” to the United States, and Mr. Owens, a former president of National Geographic Channels who previously helped create “The Biggest Loser” and the American version of “MasterChef.”<br />Propagate has focused on finding new sources for shows.<br />“These guys think global from the very beginning, and the formats and shows<br />that Ben and Howard have developed are some of the best examples of customizing content to different markets and cultures,” said Joseph Ravitch, a founder of Raine<br />Raine plans to announce on Tuesday that it has invested in Propagate, an independent<br />studio led by the veteran television executives Ben Silverman and Howard T. Owens.<br />The firm took a stake in Vice six years ago, well before the media firm gained its current valuation of $5.7 billion,<br />and has backed Jimmy Buffett’s Margaritaville and the fantasy sports site DraftKings.
