'Cheddar News sold by Altice USA to media company Archetype' -CNBC
Portfolio Pulse from Benzinga Newsdesk
Altice USA has sold Cheddar News to media company Archetype. The financial terms of the deal were not disclosed. Cheddar News, a live-streaming financial news network, was acquired by Altice USA in 2019 for $200 million. The sale is part of Altice's strategy to focus on its core telecommunications business.
December 28, 2023 | 6:11 pm
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Altice USA has sold Cheddar News to Archetype as part of its strategy to concentrate on its telecommunications business. The financial details of the transaction were not revealed.
The sale of Cheddar News by Altice USA to Archetype indicates a strategic refocus on Altice's core business. Without financial details, it's challenging to assess the direct financial impact on Altice USA. However, the divestiture could be seen as a positive move to streamline operations and reduce non-core business segments, which might be viewed favorably by investors in the short term.
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