Altice USA Discusses Cheddar News Sale to Regent Equity

Altice USA Discusses Cheddar News Sale to Regent Equity

January 12, 2024 : Altice USA, the telecommunications provider, is reportedly discussing the potential sale of its financial news streaming service, Cheddar News, with private equity firm Regent LP. This potential transaction, if finalized, marks a significant development in the landscape of digital financial media.

Cheddar News, founded in 2016 and acquired by Altice USA in 2019, has carved a niche in the market by targeting younger audiences with digestible, mobile-first financial news coverage. However, its integration within Altice’s broader portfolio has yet to yield the synergies initially envisioned, prompting the company to explore strategic alternatives.

Regent LP, known for its investments in media and technology companies, emerges as a potential buyer for Cheddar News. Its interest stems from the platform’s distinct brand and potential for further growth under new ownership. The firm’s content creation and media distribution expertise could provide Cheddar News with the resources and guidance needed to expand its reach and solidify its position within the competitive financial news space.

Negotiations between Altice and Regent are ongoing, and the precise terms of a potential deal remain undisclosed. However, analysts speculate that the acquisition price could range between $50 million and $100 million, reflecting Cheddar News’s subscriber base, brand recognition, and underlying technological infrastructure.

The potential sale of Cheddar News raises several questions about its future trajectory. While Regent’s involvement signifies renewed investment and growth, concerns remain regarding potential changes to the platform’s editorial direction and target audience. Additionally, the impact on Cheddar News’s employees and operational structure under new ownership remains to be seen.

Ultimately, the potential sale of Cheddar News underscores the evolving dynamics of the media landscape. The rise of digital platforms and the changing preferences of younger audiences require traditional media companies to adapt and seek strategic partnerships to maintain relevance. Altice’s consideration of selling Cheddar News represents one such maneuver, while Regent’s potential acquisition highlights the growing interest in niche platforms with the potential for further development and monetization.