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Cable TV company Altice USA is buying the streaming-news network Cheddar for $200 million

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Cable TV company Altice USA is buying the streaming-news network Cheddar

The video-news startup founded by former BuzzFeed executive Jon Steinberg is being bought by telecom Altice USA for $200 million, theThe video startup has already raised eye-popping funding, especially considering the gloom and doom surrounding digital media.

Cheddar was lastIt's distributed on several new streaming services including Sling TV and Philo; screens on college campuses; as well as on social networks andThe acquisition is meant to help Altice grow its news division with Cheddar's digital reach among professional millennial viewers.

 

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Altice USA Buys Streaming-Video Network Cheddar for $200 MillionCable operator Altice USA agreed to acquire streaming-video network Cheddar for $200 million, a deal expected to raise the profile of the company’s news division.
Source: WSJ - 🏆 98. / 63 Read more »