Altice USA closed a deal on Thursday to sell the youth-skewing business news streaming channel Cheddar News to Archetype, a media company owned by private equity firm Regent LP.
Altice USA is in talks to sell the financial news streaming service Cheddar News to Los Angeles-based private equity firm Regent LP, according to people familiar with the matter. No deal is assured and discussions around structure are still fluid, said the people, who asked not to be named because the talks are private.
He will succeed Jon Steinberg who is leaving the company this spring. Also, Kristin Malaspina becomes general manager of Cheddar News.
Business and entertainment news streamer Cheddar has permanently closed its Los Angeles studio amid layoffs at the company. The layoffs stem from its recent consolidation of its two separate live-streaming networks, the business-focused Cheddar and the more general interest Cheddar News.
