Altice USA Acquires Digital News Outlet Cheddar for $200 Million
Digital news outlet Cheddar has been sold to Altice USA for $200 million, the company announced on Tuesday morning. Cheddar’s founder and CEO Jon Steinberg will remain as president of the company as well as Altice’s News 12 channel and i24News.
“Cheddar has demonstrated an innovative approach to live news while building an engaged audience, solid followership and a strong brand,” Altice USA CEO Dexter Goei said. “As one of Cheddar’s early investors, we have enjoyed our partnership with Jon and admire the entrepreneurial spirit, energy and smart disruptive mentality that he brings to the news business. We look forward to seeing our growing news team continue to deliver the best content for our viewers and more opportunities for our advertisers.”