Co-founder of the high-octane independent Propaganda Films, which, by 1990, was producing 1/3 of the music videos made in the United States and enjoying similar success in feature films (Madonna's "Truth or Dare" 1991) and with both TV commercials (Calvin Klein's "Obsession", directed by David Lynch) and series (Fox TV's "Beverly Hills 90210").

After completing studies at Berkeley on a Fulbright Scholarship, the Iceland-born Sighvatsson met aspiring producer Steve Golin while both were studying at the American Film Institute. Together the two founded Propaganda and carved a very comfortable niche for themselves in music videos, a business scorned by many in Hollywood. Sighvatsson and his partner ran with this opening all the way to the bank, garnering revenues of $20 million on music videos alone by the early 1990s and clients ranging from Janet Jackson to Fleetwood Mac. Their subsequent expansion to feature films and TV has increased Propaganda's take to upwards of $80 million and led to such acclaimed offbeat fare as Lynch's "Wild at Heart" (1990) and "Heat Wave" (1990), a TV-movie about the Watts race riots of the 60s.