In a recent announcement, Altice USA, the owner of Cheddar News, revealed that it has sold its financial news streaming service to media company Archetype. The buyer, Archetype, is owned by private equity firm Regent LP and oversees well-known media brands such as Sunset Magazine and Military Times. This deal comes after previous rumors of a possible acquisition by Regent. Although the financial terms were not officially disclosed, it is reported that the deal is structured as an “earn out” agreement, where Altice USA will receive future proceeds if Cheddar meets specific performance targets. According to internal projections, these payments could reach around $50 million. Altice USA had acquired Cheddar News in 2019 for $200 million.
Cheddar News, since its groundbreaking debut broadcast from an iPhone in 2016, has been instrumental in transforming the way millennials access television news. With a focus on providing need-to-know news content, Cheddar has gained a loyal audience that appreciates its fresh and engaging approach. The acquisition by Archetype presents an opportunity for Cheddar News to expand its reach further and solidify its position as the go-to source for independent and forward-thinking news. By being a part of Archetype’s portfolio, Cheddar can leverage the expertise and resources of a media company with an impressive track record.
Archetype, in its statement, expresses excitement about assisting Cheddar in expanding its reach. The media company sees Cheddar as the “Voice of What’s Next,” enabling new audiences to be informed and engaged citizens in an ever-changing world. This highlights Archetype’s understanding of Cheddar’s value proposition and its commitment to promoting and amplifying its unique voice. As Cheddar grows under Archetype’s ownership, it has the potential to reach even more viewers, particularly those who are seeking innovative news coverage that resonates with their perspectives and interests.
With this acquisition, Cheddar News enters a new chapter in its journey. As part of Archetype, the streaming service has the opportunity to tap into the resources, expertise, and established media brands within the company’s portfolio. This strategic move can help Cheddar expand its distribution channels, produce high-quality content, and explore new opportunities for growth.
Altice USA, the previous owner of Cheddar News, expressed pride in the accomplishments of the financial news streaming service within its portfolio. Keith Bowen, President of News, Advertising, and Programming for Altice USA, praised Cheddar News for its ability to reach new viewers and deliver need-to-know content. The sale of Cheddar News signals Altice USA’s confidence in Archetype’s ability to take the streaming service to new heights and further strengthen its position in the news industry.
The acquisition of Cheddar News by Archetype marks a significant milestone in the financial news streaming service’s journey. This move presents exciting possibilities for Cheddar News to expand its reach, empower new audiences, and continue its mission of being the independent “Voice of What’s Next.” As Cheddar embarks on this new chapter, it joins forces with a media company that is equipped to support its growth and amplify its unique voice in an ever-changing world of news.