From NBCUniversal:

Altice USA has announced the sale of Cheddar News to media company Archetype, owned by private equity firm Regent LP. The deal is structured as an “earn out” deal, with Altice USA potentially collecting up to $50 million in the future if Cheddar meets certain performance targets. Cheddar, founded in 2016, was bought by Altice USA in 2019 for $200 million.

Archetype, the buyer of Cheddar, oversees media brands including Sunset Magazine and Military Times. They expressed excitement in helping Cheddar expand its reach as an independent ‘Voice of What’s Next.’ Terms of the deal were not officially disclosed, but CNBC previously reported that Altice USA could potentially receive about $50 million based on internal projections if Cheddar meets its targets.

Cheddar News, known for transforming the way millennials access television news, was acquired by Altice USA in 2019 for $200 million. The sale to Archetype, owned by Regent LP, signifies a new chapter for Cheddar as it continues its mission of empowering new audiences to be informed and engaged citizens in an ever-changing world.



Read more: Cheddar News sold by Altice USA to media company Archetype