Archetype Media Acquires Cheddar News

Cheddar News Streaming Service Finds a New Home with Archetype Media

Archetype Media Acquires Cheddar News : Altice USA, in a strategic maneuver, has divested the Cheddar News streaming service to Archetype, a prominent media entity under the ownership of the private equity firm Regent LP.

The Media Landscape in Flux: Archetype’s Diverse Portfolio Expands with Cheddar News

Earlier this month, CNBC hinted at the prospect of Altice selling Cheddar to Regent, with Archetype already boasting ownership of Sunset Magazine and Military Times.

In an official statement, Archetype expressed, “Cheddar has transformed the landscape of how the younger demographic consumes television news since its groundbreaking debut broadcast from an iPhone in 2016. As the quintessential independent voice shaping the future, Cheddar is broadening its influence, enabling new audiences to become enlightened and engaged citizens in an ever-evolving world.

The Deal Revealed: Altice USA’s Unique “Earn Out” Structure

In an exclusive interview with CNBC, a source familiar with the deal revealed its distinctive structure, labeled as an “earn-out” arrangement. Altice USA stands to gain proceeds contingent upon Cheddar meeting specific performance benchmarks in the future. Previous CNBC reports suggested that these payments might accrue to around $50 million.

A Brief Flashback: Altice USA’s 2019 Acquisition of Cheddar

The Cheddar News journey began in 2019 when Altice USA made the strategic decision to acquire Cheddar, a brainchild founded by Jon Steinberg in 2016. Since then, Cheddar has played a pivotal role in reshaping the media landscape, especially in how younger generations consume news content.

Archetype’s Diverse Portfolio: Sunset Magazine and Military Times

Archetype’s existing portfolio includes notable entities such as Sunset Magazine and Military Times, marking its presence across varied content domains. This acquisition of Cheddar News further solidifies Archetype’s commitment to providing a diverse range of high-quality media offerings.

In their official statement, Archetype emphasized the transformative impact of Cheddar on the media scene, particularly in catering to the preferences of a younger demographic. Cheddar’s innovative approach, symbolized by its groundbreaking debut broadcast from an iPhone in 2016, positions it as an independent voice, driving societal engagement in an ever-evolving world.

The Intricacies of the Deal: Altice USA’s “Earn-Out” Structure

The intricacies of the deal lie in Altice USA’s unique “earn-out” structure. This arrangement highlights the forward-thinking approach of Altice USA, linking financial gains to Cheddar News’ future performance metrics. The potential proceeds, estimated at approximately $50 million according to previous CNBC reports, underscore the confidence Altice USA has in the continued success and growth of Cheddar under Archetype’s stewardship.

A Forward-Thinking Media Landscape

As media dynamics continue to evolve, strategic moves like the one undertaken by Altice USA and Archetype become integral to staying ahead in the industry. Cheddar News, with its legacy of innovation and commitment to providing fresh perspectives, aligns seamlessly with Archetype’s vision of offering diverse and engaging content.

The acquisition not only signifies a shift in ownership but also marks a transition for Cheddar News into a new phase of its journey. With Archetype at the helm, Cheddar is poised to reach new heights, amplifying its impact on audiences and further establishing itself as a key player in the ever-expanding realm of media and news broadcasting.

Conclusion: Archetype Media Acquires Cheddar News

In conclusion, the strategic handover of Cheddar News from Altice USA to Archetype marks a pioneering union poised to redefine how media narratives unfold. With Archetype’s diverse portfolio and commitment to innovation, Cheddar’s legacy as a trailblazer in news broadcasting is set to flourish. Altice USA’s forward-thinking “earn-out” structure signals confidence in Cheddar’s future endeavors under Archetype’s guidance. As we witness this transition, it is evident that this dynamic shift will not only shape Cheddar’s trajectory but also contribute to the ever-evolving landscape of media consumption, offering audiences fresh, engaging, and enlightening content in the years to come.

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