Altice Eyeing Younger News Audience With $200 Million Cheddar Purchase
Altice agreed to buy news company Cheddar for $200 million, it said Tuesday. The acquisition adds Cheddar’s digital-first, live business, general news and college network, focused on young professional and millennial audiences. Cheddar networks are available on most U.S. over-the-top…
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subscription services and in some 40 million pay-TV homes and on 600 campuses, and the company has social distribution across Facebook, Instagram, YouTube, Twitter, LinkedIn and Snapchat. Altice’s news coverage now will span hyperlocal, national, business and international content and reach a more diverse audience on digital and linear formats, it said. The transaction is expected to close in the next two months after regulatory approval.