2023-12-29 14:28:08
Published on Dec 29 2023 at 12:55Updated Dec 29 2023 at 3:28 p.m.
This will not be enough to rebalance the financial structure of Altice USA, the American part of Patrick Drahi’s empire weighed down by 23 billion in debt according to New Street Research, but the cable operator with 4.8 million customers in the United States Unis has decided to sell Cheddar News, a media outlet it bought in 2019 for $200 million.
The acquisition of this “CNBC for millennials” was made while Altice continued to bet on the convergence between telecoms and the media to retain its subscribers and find growth drivers. It is sold to Archetype, a media group owned by the investment group in the unlisted Regent LP and which publishes publications such as “Army Times” and “Defense News”, in the military, and “Sunset Magazine”, in the lifestyle.
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