Quiver Quantitative - The media landscape witnessed a notable transaction with the sale of Cheddar News, a financial news streaming service popular among millennials, to Archetype, a company known for its military and lifestyle publications. Altice USA (ATUS) which had acquired Cheddar in 2019 for $200 million, finalized the deal, further diversifying Archetype's media portfolio, which includes Army Times, Defense News, and Sunset Magazine. This move allows Altice USA to sharpen its focus on its core businesses in telecommunications, advanced advertising, and local news.
Keith Bowen, Altice USA's President of News, Advertising, and Programming expressed confidence in Archetype as the ideal entity to elevate Cheddar News to new heights. This transaction signifies a strategic shift for Altice USA, redirecting its resources and attention towards its primary sectors, suggesting a refined business approach in a rapidly evolving digital media landscape. The decision to sell Cheddar comes after reports emerged in July 2022 about Altice USA's considerations for offloading the network.
Market Overview: -Financial news streaming service Cheddar sold by owner Altice USA. -Millennial-focused Cheddar finds new home with niche media giant Archetype. -Archetype expands portfolio beyond military and lifestyle publications.
Key Points: -Sale terms not disclosed, but Altice confident in Archetype's stewardship. -Altice acquired Cheddar in 2019, potential sale surfaced in July. -Cheddar's younger demographic may have conflicted with Altice's priorities. -Archetype sees opportunity to diversify and reach new audience.
Looking Ahead: -Integration of Cheddar's news with Archetype's publications could create compelling media ecosystem. -Strategic potential of deal is high, but financial details remain unknown. -New chapter for both Cheddar and Archetype as they navigate this intriguing partnership.
The financial terms of the acquisition were not disclosed, leaving industry observers to speculate on the valuation and strategic implications of the deal. Cheddar News, recognized for its unique approach to financial news targeting a younger audience, is poised for a new chapter under Archetype's ownership. The acquisition potentially heralds an expanded reach and influence for Cheddar, especially considering Archetype's existing portfolio in niche media segments.
This development reflects the ongoing transformations within the media industry, where traditional and new-age companies continually adapt to shifting consumer preferences and technological advancements. As Cheddar News integrates into Archetype's diverse media offerings, it remains to be seen how this synergy will unfold and impact the broader media ecosystem.
This article was originally published on Quiver Quantitative