Altice USA Sells Millennial-Targeted Cheddar News to Archetype

Sale structured as 'earn out' deal with potential future proceeds for Altice USA.

Cheddar News, a financial news streaming service targeting millennials, has been sold by Altice USA to media company Archetype.
Archetype, owned by private equity firm Regent LP, also owns media brands such as Sunset Magazine and Military Times.
The terms of the sale were not disclosed, but it is structured as an 'earn out' deal, with Altice USA set to collect future proceeds if Cheddar meets certain performance targets.
Cheddar was founded in 2016 by Jon Steinberg, a former BuzzFeed executive, and was bought by Altice USA in 2019 for $200 million.
Archetype plans to assist Cheddar in expanding its reach and continue its mission of informing and engaging new audiences.