Altice USA to acquire Cheddar for $200m.

Altice USA, one of the largest broadband communications and video services providers in the United States, has reached an agreement to acquire Cheddar, the digital-first news company, for $200m. With this acquisition, Altice broadens its portfolio of high-quality news businesses by adding Cheddar’s innovative, digital-first, live business, general news and college network focused on young professional and millennial audiences. The transaction is expected to close in the next two months upon receipt of regulatory approval. “Our goal is to make Altice News a leader in local, business, national, and international news everywhere as we look to build a live news offering for customers in the traditional pay TV ecosystem, as well as those looking to a la carte alternative SVOD services, vMVPDs, and free systems for their non-news entertainment,”Jon Steinberg, Cheddar Founder and CEO.