Altice USA (NYSE: ATUS), one of the largest broadband communications and video services providers in the U.S., has closed the previously announced acquisition of Cheddar, the digital-first news company.
With this acquisition, Altice broadens its portfolio of high-quality news businesses by adding Cheddar’s innovative, digital-first, live business, general news and college network focused on young professional and millennial audiences. Cheddar joins the Altice News division, complementing its hyperlocal and global news offerings that include the most watched news channel in the Optimum footprint News 12 Networks, and international and current affairs news network i24NEWS.
Cheddar founder and CEO Jon Steinberg joins Altice USA as president of Altice News, leading Cheddar, News 12 and i24NEWS.
With the acquisition of Cheddar, Altice’s full suite of news offerings now covers hyperlocal, national, business and international content, reaching broader and more diverse audiences on both digital and linear formats.
Cheddar is a post-cable networks company. Its programming is available on Sling TV, DirecTV NOW, Hulu, YouTube TV, Comcast X1, Charter Spectrum, Sony PlayStation Vue, Snapchat, fuboTV, Philo, Amazon, Twitch, Twitter, 60% of smart TVs in the U.S., and Facebook. The company currently broadcasts two live video news networks:
- Cheddar Business, which covers the most innovative executives, founders, products, and technologies transforming our lives and economy, and
- Cheddar News, a young, non-partisan general and headline news network.
The company broadcasts from the trading floor of the New York Stock Exchange, its street-level studio in the glass corner of the Sprint Store in the Flatiron Building, WeWork in Los Angeles, and the White House.
Cheddar was founded by Jon Steinberg, President and Chief Operating Officer of BuzzFeed from 2010 to 2014. Its investors include Lightspeed Venture Partners, Raine Ventures, Altice USA, Comcast Ventures, AT&T, Ribbit Capital, The New York Stock Exchange, Goldman Sachs, Liberty Global, Amazon, Homebrew, WGI Group, 7 Global Capital, Antenna Group, and Dentsu Ventures.
FinSMEs
07/06/2019