Cheddar News Furloughs Staff Following Sale by Altice USA

The financial news channel targeting millennials faces challenges as new owner Archetype takes over.

Cheddar News, a financial news channel targeting millennials, has furloughed several employees following its recent sale by Altice USA to Archetype.
Altice USA, the fourth-largest cable provider in the US, sold Cheddar News last week. The terms of the deal were not disclosed.
Cheddar News was founded in 2016 with a unique business model of generating revenue solely through advertising.
Archetype, the new owner of Cheddar News, is a media company whose holdings include Army Times and Defense News.
Prior to the sale, Altice USA had laid off several high-profile hosts of popular shows at Cheddar News due to struggles in generating revenue from a shrinking advertising market.