Cheddar Inc. is an American live streaming financial news network founded by Jon Steinberg in the United States.
[10] Jon Steinberg, formerly president of BuzzFeed and CEO of Daily Mail North America, conceived the concept after leaving the latter in 2015.
[11] Steinberg founded Cheddar in early 2016 and hired Peter Gorenstein, a senior producer at Yahoo, as the channel's chief content officer in January 2016.
In September 2017, Cheddar hired Anjali Kumar, former Warby Parker executive and Google lawyer, as its first general counsel and chief people officer.
[5] In the company's first financing round in January 2016, it raised nearly $3 million, primarily from Snapchat and Lightspeed's Jeremy Liew, and additional funds from WGI Group, Homebrew, Jerry Speyer, and David Fiszel.
[18] The company purchased StockStream, a Twitch hosted crowd-sourcing investment decision website, from the creator Mike Roberts in July 2017.
Dunkin' Donuts, a Cheddar advertiser, gave free digital antennas at events in the stations' markets to publicize the over the air launch.
[25] KXTV aired segments from Cheddar on July 27, 2017, during its morning and afternoon news programs as a test for a planned rollout throughout the Tegna TV station group.
[26] These segments were rolled out by August to seven News 12 Network cable channels, owned by Altice,[27] then to a handful of additional Tegna stations and Tribune's WPIX.
[26] In September 2017, Cheddar announced its deal with Layer3 TV, an IP-based MVPD,[30] and planned to open a broadcast studio in the UK by 2018.
CheddarU was part of the ChedNet division, which focused on installing more screens and broadcasting its service in gyms, hotels, airport lounges, restaurants, bars, among others.
[41][42] In June 2018, Cheddar added another distribution outlet via a carriage deal with virtual MVPD fuboTV, an OTT TV service focused on sports programming.
[46] The same month, the company announced its programming will air for 30 minutes every weeknight on CUNY TV, the independent station by the City University of New York.
[48] On April 30, 2019, Cheddar announced an agreement to be bought by cable company Altice USA for $200 million in cash; the purchase was made to bolster the latter's news output.
[9][49] In December 2023, Altice USA sold Cheddar to the media company Archetype, which is owned by private equity firm Regent LP.
[53] From 2017 to 2019, Cheddar had a brokered programming agreement with five stations owned by DTV America Corporation to carry the channel over-the-air.