In a recent acquisition deal, Cheddar News, the financial news streaming service, has been sold by Altice USA to media company Archetype. The deal was facilitated by private equity firm Regent LP, which owns Archetype. This move signifies a change in ownership for Cheddar News and raises questions about its future direction.
Archetype, the media company that now owns Cheddar News, manages various media brands such as Sunset Magazine and Military Times. In a statement, Archetype expressed excitement about assisting Cheddar News in expanding its reach as the independent “Voice of What’s Next.” This suggests that the new owners have ambitions to broaden Cheddar News’ audience and influence by empowering new audiences to be well-informed and engaged citizens in our rapidly evolving world.
While the financial terms of the deal were not officially disclosed, CNBC reports that it is structured as an “earn out” deal. This means that Altice USA will receive proceeds in the future if Cheddar News meets specific performance targets. According to internal projections, these payments could potentially amount to about $50 million. This arrangement highlights the level of confidence that Altice USA has in Cheddar News’ continued success and growth potential.
Altice USA, as the previous owner of Cheddar News, expressed pride in what the financial news streaming service has achieved within its portfolio. Keith Bowen, the president of news, advertising, and programming for Altice USA, stated that Cheddar News has successfully expanded its distribution and captivated new viewers by delivering fresh and engaging news content. This recognition highlights the significant impact Cheddar News has had since its groundbreaking debut broadcast from an iPhone in 2016.
With changing ownership, Cheddar News faces both opportunities and challenges. Under Archetype’s guidance, there is the potential for the financial news streaming service to tap into new markets and attract a wider audience. Furthermore, the focus on being the leading independent voice for the future suggests an emphasis on innovation and staying ahead of the curve. However, as with any transition, uncertainties exist, and it remains to be seen how Cheddar News will evolve under its new ownership.
The sale of Cheddar News to Archetype marks a significant change in ownership and raises expectations for the future direction of the financial news streaming service. With its new mission to be the definitive independent “Voice of What’s Next,” Cheddar News aims to empower audiences to stay informed and engaged. As the industry evolves and competition increases, Cheddar News will need to adapt and innovate to maintain its position as a trusted and influential source of financial news. Only time will tell how this acquisition will shape the future of Cheddar News and its impact on the media landscape.
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