The Cheddar News logo is seen on a smartphone and PC screen.
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Cheddar News owner Altice USA announced Thursday it has sold the financial news streaming service to the media company Archetype, which is owned by private equity firm Regent LP.
CNBC previously reported rumblings of a possible deal to sell Cheddar to Regent. Archetype oversees media brands including Sunset Magazine and Military Times.
“Cheddar has helped transform the way millennials have accessed television news since its groundbreaking debut broadcast from an iPhone in 2016,” Archetype said in a statement. “We are excited to assist Cheddar in expanding its reach as the definitive independent ‘Voice of What’s Next’ empowering new audiences to be informed and engaged citizens in an ever-changing world.”
Terms of the deal were not officially disclosed, but a person familiar with the matter told CNBC it is structured as a so-called “earn out” deal. Altice USA will collect proceeds…
2023-12-28 13:47:44
Link from www.cnbc.com