Altice USA has sold its financial services streamer Cheddar News to media company Archetype, Altice announced Thursday.
Altice previously purchased Cheddar News back in 2019 for $200 million.
While the deal’s specifics have yet to be announced, sources close to the matter claim it is an “earn-out” deal that could amount to more than $50 million if Cheddar News meets certain performance targets.
“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 said in a statement.
