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Altice USA Buys Digital News Service Cheddar for $200M

Y2kTheNewOldies

Y2kTheNewOldies

https://www.hollywoodreporter.com/news/altice-usa-buys-cheddar-200-million-1205959

Altice has a deal with the business network Cheddar.

The youth-skewing business news startup is set to bolster the news offerings for Altice USA.
Altice USA has signed a deal to buy the youth-skewing business news startup Cheddar for $200 million in cash.

The acquisition will bolster the broadband and cable giant's Altice News service as Cheddar offers youth-skewing news content around business, technology, culture and politics. Altice USA last year began offering Cheddar via its Altice One platform and was an early investor in the digital-first company.

“Cheddar has demonstrated an innovative approach to live news while building an engaged audience, solid followership and a strong brand," Altice USA CEO Dexter Goei said Tuesday in a statement.

Jon Steinberg, who founded Cheddar after serving as president and COO of BuzzFeed for four years to 2014, will become president of Altice News. In that role, Steinberg will oversee Cheddar and Altice USA's News 12 Networks and i24 News offerings.
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