Propagate Buys Electus, Takes Majority Stake in Artists First

Propagate has acquired Electus, initially founded by Ben Silverman, along with taking a majority share in the talent management and production firm Artists First.

The deal comprises Electus’s content, international sales division and library, along with Artists First’s talent roster.

Electus was founded by Silverman with the backing of IAC in 2009. He left Electus in 2016 to found Propagate with Co-CEO Howard T. Owens. Artists First, led by Peter Principato, was founded in 2001. The company produces the hit ABC comedy black-ish and Freeform spin-off Grown-ish, as well as TBS’s The Last O.G. and ABC’s The Gong Show.

The deal with IAC expands Propagate’s full-service global studio. The acquisitions were financed through an investment secured earlier this year from global merchant bank The Raine Group to accelerate Propagate’s global growth through new ventures and targeted acquisitions. A+E Networks, an early investor, also owns a stake in Propagate.

“At Propagate, we are focused on building premium content with the best creative voices from around the world, and being able to support the growth of Electus and all of its partnerships is incredibly exciting to us,” said Silverman and Owens, Propagate’s co-CEOs. “We have had the privilege of working closely with Peter Principato and his team of world-class executives and managers at Artists First and we are looking forward to deeper collaboration as we build an enterprise for the next phase of content creation and distribution. Barry Diller is an incredible entrepreneur who has consistently supported us throughout our careers.”

“We are extremely excited to be reunited with Ben and to be part of what he and Howard are building at Propagate,” said Electus’s Chris Grant and Drew Buckley. “This new platform will provide the scale and financing necessary to be a leader in today’s global content marketplace.”

“On behalf of the Artists First Partners, we are thrilled to team back up with Ben and join forces with Howard and the Propagate team,” said Artists First CEO Peter Principato. “Our management and production capabilities seamlessly integrate within the structure of Propagate, representing a fantastic opportunity for our company, our clients and the industry as a whole.”

IAC Chairman and Senior Executive Barry Diller said, “It’s nice to see that Ben Silverman, who created Electus for IAC in 2009, has now purchased the company from us. We wish him the best for its future.”