ATUS - Cheddar News Parent Altice USA In Talks To Offload News Service To Private Equity: CNBC | Benzinga
Altice USA, Inc (NYSE: ATUS) stock is trading lower Monday amid reports of the company discussing selling the financial news streaming service Cheddar News to L.A.-based private equity firm Regent LP.
Altice USA and Regent are discussing a potential transaction for Cheddar, where no initial cash exchange would occur. Instead, Altice USA would participate in Cheddar's future performance through an "earn-out" structure.
If Cheddar achieves specific performance targets, Altice USA could receive future proceeds approximately amounting to $50 ...