Altice USA in talks to sell Cheddar News to Regent: Private Equity Deal
Altice USA is reportedly in talks to sell its financial news streaming service, Cheddar News, to private equity firm Regent LP. The discussions are still ongoing, and no deal has been finalized. One potential structure being considered involves Altice USA participating in Cheddar's future performance through an "earn out" structure, where Altice USA would receive proceeds based on Cheddar meeting certain performance targets. Altice USA acquired Cheddar for $200 million in 2019 but has been looking to shed assets due to declining stock prices and revenue. Regent LP specializes in media sector investments and has experience owning and operating assets in the industry.