Altice USA sells Cheddar News to media company Archetype.

• Archetype, a media company owned by private equity firm Regent LP, has acquired the financial news streaming service from Altice USA, the owner of Cheddar News.
• An unnamed source informed CNBC that the terms of the deal were not made public, but it is an "earn out" deal.

Archetype, a media company owned by private equity firm Regent LP, has acquired the financial news streaming service from Altice USA, the owner of Cheddar News.

There were rumors of a potential sale of Cheddar to Regent, as Archetype manages media brands such as Sunset Magazine and Military Times.

Cheddar has revolutionized the way millennials consume television news with its innovative iPhone broadcast in 2016. Archetype is thrilled to support Cheddar's growth as the leading independent source of 'What's Next,' empowering audiences to become knowledgeable and engaged citizens in a rapidly evolving world.

CNBC reported that the terms of the deal between Altice USA and Cheddar were not officially disclosed, but a source close to the matter stated that it is an "earn out" deal. This means that Altice USA will receive payments in the future if Cheddar achieves certain performance targets. These payments could potentially reach $50 million based on internal projections, as previously reported by CNBC.

In 2019, Altice USA purchased Cheddar, a company founded in 2016 by Jon Steinberg, for $200 million.