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Altice USA Considers Sale of Cheddar News Following Stock Declines

  • Altice USA has hired Goldman Sachs to explore strategic options for Cheddar News, including a potential sale.
  • Cheddar was acquired by Altice in 2019 for $200 million but has underperformed expectations.
  • A sale of Cheddar would represent a retreat from Altice's previous investment in building up its news division.
  • Altice's stock price has declined 70% over the past year amid falling profits and revenues.
  • Cheddar relies more on advertising compared to Altice's traditional cable business model focused on carriage fees.
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