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.
Are U.S. voters rebuking Joe Biden over his Israel policy?
The Israel-Hamas War is entering a sixth month.
During a recent trip in New York, President Joe Biden was asked when a ceasefire between Israel and Hamas might start.
He said he hopes a pause in hostilities can take effect in the coming days to allow for remaining hostages to be released.
Jonathan Tobin, the editor-in-chief of Jewish News Syndicate joins Veronica Dudo. #IN AMERICA TODAY #featured #IsraelHamas #war #Israel #Hamas #ceasefire
Putin threatens West with nuclear strike
Russian President Vladimir Putin has issued a direct threat to employ nuclear weapons against the West, accusing NATO and the United States of preparing to strike Russia.
Putin delivered this ominous warning during his annual address to the nation, raising global tensions to unprecedented levels.
During his speech, Putin accused NATO and the US of deceptive maneuvers, alleging their intentions to launch an attack on Russian territory.
He emphasised Russia’s readiness to defend itself, boasting of its modernized nuclear arsenal and asserting the capability to defeat any potential aggressors on their own soil.
The Russian leader’s words carried a chilling reminder of the destructive power at his disposal, stating, “They have to understand that we also have weapons, weapons that can defeat them on their own territory.”
Such rhetoric underscores the grave risk of escalating conflict and the potential catastrophic consequences of nuclear warfare.
Putin warned that the deployment of troops to Ukraine by NATO countries could lead to a real risk of nuclear war.
He emphasised Russia’s determination to strengthen its military presence in response to perceived threats from neighboring nations aligning with Western alliances.
In addition to military concerns, Putin criticized Western efforts to engage Russia in an arms race, vowing to bolster Russia’s defense capabilities while accusing the West of attempting to weaken the country economically and politically.
Despite escalating tensions and global condemnation of Russia’s actions in Ukraine, Putin sought to rally support domestically, praising Russian unity and resilience in the face of adversity.
He portrayed Russia’s military intervention in Ukraine as a defensive measure to safeguard national interests and protect Russian citizens.
Putin’s aggressive stance towards the West underscores the deepening rift between Russia and Western powers, raising fears of a potential conflict with far-reaching consequences.
FAA gives Boeing 30 days to fix 737 MAX program
The Federal Aviation Administration has issued Boeing a 90-day deadline to devise a comprehensive plan for enhancing quality control procedures after a recent incident involving a 737 Max aircraft.
Less than two months following an alarming occurrence where a door plug blew out of a 737 Max aircraft just nine minutes into an Alaska Airlines flight, the FAA has demanded Boeing to present a thorough strategy to address quality control deficiencies.
The incident, which took place on Flight 1282, revealed that essential bolts required to secure an unused door panel on the nearly new aircraft were missing, according to a preliminary investigation conducted earlier this month.
The door plug had been removed and reinstalled at Boeing’s Renton, Washington, factory where the 737 Max is manufactured.
This incident adds to a string of production issues plaguing Boeing’s flagship aircraft.
In response to the FAA’s directive, Boeing affirmed its commitment to developing a comprehensive action plan with measurable benchmarks.
The aerospace giant assured that its leadership is fully dedicated to meeting this challenge head-on.
FAA Administrator Mike Whitaker emphasized the need for Boeing to implement substantial and enduring improvements, emphasizing that foundational changes will necessitate ongoing commitment from the company’s leadership.
The FAA intends to hold Boeing accountable at every stage of the process, ensuring that mutually agreed milestones and expectations are met.
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