Altice USA buys in Cheddar



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Altice USA has announced plans to acquire the first digital news company Cheddar for $ 200 million.

Cheddar, which is a millennium, is available in 40 million homes through exaggerated carriers including YouTube TV, Sling, Hulu Live, DIRECTV NOW, Pluto and Roku. Significantly, Cheddar's networks have recently won the traditional cable networks Comcast, Charter and Altice USA.

Altice now plans to combine Cheddar with its established news operations, News 12 and i24NEWS, under the leadership of Cheddar founder and CEO Jon Steinberg.

"Cheddar demonstrated an innovative approach to live news, while building an engaged audience, strong followers and a strong brand," said Dexter Goei, CEO of Altice USA. "As one of Cheddar's early investors, we enjoy our partnership with Jon and admire the entrepreneurial spirit, energy and clever disruptive mentality he brings to the news business.

Cheddar currently broadcasts 19 hours per day of live news through two networks: Cheddar Business, a business news network that covers executives, founders, products and technologies; and Cheddar News, a fast-paced news network and news headlines.

"Our goal is to make Altice News a leader in local, corporate, national and international news everywhere as we seek to build a live news offering for customers in the traditional pay TV ecosystem, as well as those seeking a alternative to cable TV. services, vMVPDs, and free systems for your non-news entertainment, "said Steinberg.

The transaction must be completed within the next two months after regulatory approval.

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