Altice USA’s sale of Cheddar News, a millennial-centric business news startup, to Archetype marks a strategic shift in media ownership. This article dives into the acquisition’s significance and implications.

The recent acquisition of Cheddar News by Archetype from Altice USA, as reported by The Hollywood Reporter, signifies a transformative shift in the youth-oriented business news landscape.

Sale Details: Altice USA, which acquired Cheddar News in 2019 for $200 million, has now sold it to Archetype, a media company boasting brands like Sunset and Military Times. The financial terms of the deal remain undisclosed.
Cheddar’s Niche: Positioned as a business news service targeting a younger demographic, Cheddar News competed with established financial channels like CNBC and Bloomberg TV.
Archetype’s Vision: The acquiring company aims to amplify Cheddar’s influence as an independent voice, heralding a new era of informed and engaged viewership.

Cheddar News, pioneered by former BuzzFeed and DailyMail executive Jon Steinberg, disrupted traditional news broadcasting, particularly by broadcasting live finance programming from the New York Stock Exchange. Despite its unique approach, it faced formidable competition from streaming giants like Amazon, Netflix, and Hulu targeting similar millennial audiences.

The strategic sale allows Altice USA to refocus on its core telecommunications, advanced advertising, and hyperlocal news sectors. Meanwhile, Archetype’s acquisition positions Cheddar News to evolve and expand its influence as the preeminent source of forward-thinking news for younger demographics.

The sale of Cheddar News to Archetype not only marks a shift in ownership but also signals a significant chapter in the evolution of millennial-focused business news. As the media landscape continues to evolve, this acquisition underscores the dynamism and competition within the sector.

This analysis draws insights from The Hollywood Reporter article “Altice USA Sells Cheddar News to Archetype.”