Altice USA buys digital news network Cheddar for $200M

Cable television provider Altice USA has confirmed plans to pay $200 million for the millennial-focused, digitally native news network Cheddar in an all-cash, or all-cheddar,rather, deal. The price tag comes at a 25 percent premium to the media startup’s $160 million Series D valuation.
Jon Steinberg, the co-founder and chief executive officer of Cheddar and former president and chief operating officer of BuzzFeed, will become president of Altice News. Altice, an existing Cheddar investor,