Altice USA sells Cheddar News to private-equity-backed media company Archetype
Cheddar News, a unit of Altice USA Inc. (ATUS), has been sold to Archetype, owner of Sunset magazine, Military Times, Defense News and HistoryNet, among other publications, according to a statement on its website. Terms of the deal were not disclosed. Archetype is backed by Beverly Hills, Calif.-based private-equity firm Regent LP. "We are excited to assist Cheddar in expanding its reach as the definitive independent 'Voice of What's Next' empowering new audiences to be informed and engaged citizens in an ever-changing world," Archetype said in a statement. Altice USA's stock was up by 7.5%. It's the second straight day of gains for Altice USA's stock, which rose 12% on Wednesday after Bloomberg reported that billionaire Xavier Niel might buy the Portuguese operations of Altice, a separate unit of Altice USA, a cable operator.
-Steve Gelsi
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12-28-23 1522ET
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