By Jeremy Fuster | The Wrap
Altice USA closed a deal on Thursday to sell the youth-skewing business news streaming channel Cheddar News to Archetype, a media company owned by private equity firm Regent LP.
“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.”
“Archetype is an excellent choice to take the network to the next level while enabling Altice USA to focus on its telecommunications, advanced advertising, and hyperlocal news businesses,” Keith Bowen, president of Altice USA news, advertising and programming, said in his own statement.
“Earn-outs have become an increasingly popular mechanism in M&A deals. If you plan to sell your business in 2024, you need to understand the concept behind an earn-out so you can maximize your price.” -Shruti Gurudanti, Rose Law Group partner and director of corporate transactions
