Propagate to Recut Cheddar’s Financial News for International Markets

Todd Spangler

Propagate, the independent studio run by Ben Silverman and Howard T. Owens, has cut a deal with digital network Cheddar to reformat the startup’s youth-targeted financial news content and ship it overseas.

The companies will initially produce a weekly 45-minute show called “Cheddar World,” which will be an edited-down version of Cheddar’s existing content customized for local markets and languages. They’re hoping to launch “Cheddar World” in five markets by the end of 2017 and are seeking deals with TV networks, pay-TV providers and over-the-top services outside the U.S.

Cheddar was founded last year by Jon Steinberg, former president and COO of BuzzFeed. The New York-based startup’s investors include Lightspeed Venture Partners, Comcast Ventures, Ribbit Capital and Homebrew.

“We believe the Cheddar business model and its content will translate for international markets, and we are excited to work with Jon and the team to bring a customized version of the service to our global partners,” Silverman and Owens said in a joint statement.

Billing itself as a kind of next-generation CNBC, Cheddar broadcasts live finance, tech and media news and interviews from the floor of the New York Stock Exchange and the Sprint Flatiron Building Store.

Cheddar’s internet video service costs $3 per month, or $30 annually. The service is powered by Vimeo’s VHX white-label video platform. It’s currently distributed via Dish Network’s Sling TV, Amazon Channels, Pluto TV, Vimeo, Twitter and Xumo’s smart TV platform.

Propagate, which launched in 2015, has a development slate that includes “Lore,” co-produced with Gale Anne Hurd’s Valhalla Entertainment for Amazon; “Planet of the Apps,” featuring Jessica Alba and Gwyneth Paltrow, for Apple; a remake of “Charmed” for CW; “In the Country We Love,” “Exhibit A” and “Jumpmen” for CBS; “Let’s Stay Together” for ABC; and “The High Court” for Comedy Central, featuring comedian Doug Benson.

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