Altice USA is in talks to sell the financial news streaming service Cheddar News to LA-based private equity firm Regent LP, according to people familiar with the matter.
Instead, Altice USA would participate in Cheddar's future performance as part of a so-called "earn out" structure.
Since then, Altice USA, the fourth-largest U.S. cable provider, behind Comcast , Charter and Cox, has looked to shed assets as its stock price has plummeted.
Altice USA has also considered selling U.S. cable asset Suddenlink but dropped those plans in late 2022.
The New York Times reported Altice USA was considering selling Cheddar earlier this year.
Persons:
Jon Steinberg, Dexter Goei, Steinberg, Goei, Regent, Ralph Lauren, Regent didn't
Organizations:
USA, Regent, Altice, CNBC, Altice USA, Comcast, Cox, Sightline Media, Sunset Magazine, Time Inc, Club Monaco, New York Times
Locations:
LA, USA, Altice USA, U.S, Tegna