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Here's why Altice USA just dropped $200 million on streaming video start-up Cheddar

Alex Sherman

Altice USA is betting Cheddar will continue to expand its news offerings after the acquisition. Cheddar generated about $25 million in revenue through advertising in 2018 and is on pace to make about $50 million this year. Cable and internet provider Altice USA ATUS has agreed to buy news streaming start-up Cheddar for $200 million, snapping up a growing video site with a focus on ad revenue.