News
No extra cheese. Cheddar News sold in “earn-out” deal
Cheddar News, the media company known for its unique blend of finance and tech news, has been acquired by the private equity-owned media conglomerate Archetype in a groundbreaking earn-out deal.
This development comes after Cheddar’s $200 million sale in 2019, which raised eyebrows in the industry.
Under the terms of the earn-out deal, Cheddar News will continue to operate independently while benefiting from Archetype’s vast resources and expertise in media.
“Cheddar has helped transform the way millennials have accessed television news since its groundbreaking debut broadcast from an iPhone in 2016,” Archetype said in a statement. “We are excited to assist Cheddar in expanding its reach as the definitive independent ‘Voice of What’s Next,’ empowering new audiences to be informed and engaged citizens in an ever-changing world.”
“Archetype is an excellent choice to take the network to the next level while enabling Altice USA to focus on its telecommunications, advanced advertising, and hyperlocal news businesses,” Keith Bowen, president of Altice USA news, advertising and programming, said in his own statement.
The acquisition has left many wondering about the future direction of Cheddar News and how it will evolve under new ownership.
Cheddar News Sheds Jobs
In June, Cheddar News underwent significant changes as it announced layoffs and bid farewell to its star anchor, Baker Machado.
Cheddar News cut jobs across various departments, raising questions about the company’s future direction and its ability to maintain its unique brand of news coverage. The network had been a pioneer in the digital news landscape, catering to a younger audience with its engaging and informative content.
The departure of Baker Machado, one of Cheddar News’ most recognizable faces, had left viewers wondering about the reasons behind this decision.
What’s happening in the Middle East?
- Trump says U.S. strikes could last four to five weeks and described the operation as the last best chance to act, while Secretary of State Marco Rubio warns the hardest hits are yet to come
- Six U.S. service members have been killed, additional American forces are being deployed to the region, and the White House says nine Iranian naval ships have been destroyed
- Iran says it sees no limit to its right to self defence and will not negotiate, as missile and drone attacks continue across Israel, Lebanon and Gulf states
- More than 500 Iranians have been killed in U.S. and Israeli strikes, with further deaths reported in Lebanon, Israel and the UAE
- Shipping, aviation and energy markets have been severely disrupted, more than 11,000 flights have been cancelled, Gulf stock markets have closed temporarily, and oil and gas prices have surged amid Strait of Hormuz fears
News
Oil prices surge amid rising Middle East conflict risks
Crude oil surges 7% amid fears of Middle East conflict; Strait of Hormuz disruptions may push Brent over $100.
Crude oil surges 7% amid fears of Middle East conflict; Strait of Hormuz disruptions may push Brent over $100.
Crude oil prices spiked dramatically as investors react to the growing risk of a wider conflict in the Middle East. U.S. crude surged 7.2 percent, trading near $71.84 a barrel, signalling heightened concern across energy markets.
The Strait of Hormuz, a critical shipping chokepoint, has come under intense scrutiny. Rising war-risk insurance premiums and suspended tanker traffic are already slowing the movement of oil, creating ripple effects in global supply chains.
JPMorgan has warned that prolonged disruptions over three weeks could force Gulf producers to reduce output, potentially pushing Brent crude prices to between $100 and $120 a barrel. Markets are closely watching for developments that could reshape global energy pricing.
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News
Trump warns of last opportunity to hit Iran as conflict escalates
Trump declares final chance to strike Iran, aiming to dismantle missile systems and prevent nuclear weapons amid U.S. troop losses.
Trump declares final chance to strike Iran, aiming to dismantle missile systems and prevent nuclear weapons amid U.S. troop losses.
President Trump has declared this is the final opportunity to strike Iran as conflict intensifies across the Middle East, outlining four key military objectives including dismantling Iran’s missile capabilities and targeting its navy.
The U.S. says its mission is to prevent Iran from acquiring a nuclear weapon and to halt its alleged support for terrorist groups abroad, signalling a potentially prolonged campaign in the region.
Four U.S. troops have already been killed, with officials warning further casualties are possible as operations continue.
#Trump #Iran #MiddleEast
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