By Dana Sanchez
Altice USA, one of the largest-but-relatively-unknown cable companies in the U.S., acquired financial news streaming network Cheddar for $200 million — a sign that Altice may be entering the streaming wars, Axios reported.
Cheddar CEO and founder Jon Steinberg built his company’s distribution to 40 million pay-TV homes with content aimed at millennials. His new job title will be president of Altice News.
Altice USA is in “heavy testing” for a mobile service launch that company executives said is on track to happen this summer, according to RCR Wireless.
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Altice was an early investor in Cheddar, which launched in 2016. Cheddar had an innovative approach to live news and built an engaged audience, solid followers and a strong brand, Altice USA CEO Dexter Goei said in a press release.
Cheddar broadcast live on SlingTV, Hulu Live, YouTube TV, Philo, Twitter, Facebook Watch, Pluto, Xumo and more.
Altice USA today reported losing 15,000 video subscribers in its
fourth-quarter earnings. That Click here to read entire article