Altice USA will acquire cheddar cheese

NEW YORK–(BUSINESS WIRE– Altice USA (NYSE: ATUS), one of the largest broadband communication networks and
Video Service Providers in the United States, Announces Today
has reached an agreement for the acquisition of Cheddar, the first digital news
company, for $ 200 million. With this acquisition, Altice expands its
portfolio of high quality press activities by adding Cheddar's
innovative, digital first, live business, general news and college
network focused on young professionals and millenarians. the
The transaction is expected to be finalized within the next two months from the receipt of the
regulatory approval.

Cheddar Networks Available in About 40 Million Pay TV Channels
homes via MVPD, all virtual MVPDs (YouTube TV, Sling, Hulu Live,
DIRECTV NOW, etc.), the main free television systems (Pluto, Roku Channel, etc.),
and a campus network of 1600 screens owned and operated in 600
campuses. Cheddar has recently expanded its distribution to millions of homes
cable, by concluding distribution agreements with
Comcast, Charter and Altice USA. Cheddar is available on almost everything
subscription pay television services in the United States and
social distribution on Facebook, Instagram, YouTube, Twitter,
LinkedIn, Snapchat and other platforms generating more than 400 million videos
views per month.

Strategic highlights

Cheddar joins Altice USA News, in addition to hyperlocal services and
global news offerings that include the most-watched news channel in the
Optimal footprint News 12 International and current networks
business news network i24NEWS. The combination of News 12 and i24NEWS '
know-how in linear content and distribution, plus Cheddar's expertise in
Digital content and first distribution offer several advantages:

• With the acquisition of Cheddar, Altice's complete range of news
  now covers hyperlocal, national, professional and international content,
  reach wider and more diverse audiences, both digital and linear
  formats.

• Cheddar brings a strong news team with a young committed professional
  thousand-year-old audience, offering an important opportunity to
  Advance Altice USA News from Content, Distribution and Audience
  reach the prospect, as well as create more value for advertisers.

• Altice USA News is currently collaborating with Cheddar on
  programming: News 12 airs on its seven stations in the New York State
  the Cheddar Tech Report, and i24NEWS releases the best stories from
  Cheddar as part of its worldwide coverage. This combination is going
  offer more opportunities for collaboration and complementarity
  programming.

• Cheddar will continue to expand its live advertising in strong growth
  products that currently serve as major national brands and provide
  additional scale and local targeting of these offers via dynamic ads
  insertion in the News 12 and i24NEWS inventory.

• Cheddar plans to develop and deploy additional advertising
  products on the Altice footprint, including its advanced Altice solutions
  One and A4 advertising platform.

Cheddar's founder and CEO, Jon Steinberg, will join Altice USA to lead
Altice News, including Cheddar, News 12 and i24NEWS.

"Cheddar has demonstrated an innovative approach to live information while
build a committed audience, a strong public and a strong brand ",
said Altice USA General Manager Dexter Goei. "As one of the first investors in Cheddar,
we enjoyed our partnership with Jon and admire the entrepreneurial spirit
mind, energy and intelligent disruptive mindset that it brings to the news
business. The culture and state of mind of the cheddar are perfectly suited to Altice
United States and we are delighted to welcome Jon and the Cheddar team to the Altice Club.
family. We look forward to seeing our growing news team continue to
provide the best content for our viewers and more opportunities for our
advertisers. "

"Our goal is to make Altice News a leader at the local, commercial, national and
and international news wherever we are looking to build a live news
provides customers with the traditional pay-TV ecosystem, as well as
those looking for alternative SVOD services à la carte, vMVPDs and
systems for their non-news entertainment, "said Steinberg. "L & # 39; Altice
the team and Altice Way are as enterprising as possible with an incredible
markets, world-class local and international news, incredible broadband
network, and one soon to launch a mobile offer. I can not wait for Cheddar
start working with the Altice team. "

Background on cheddar

Cheddar currently broadcasts 19 hours daily live news on two
networks: Cheddar Business, a network of commercial information covering
innovative frameworks, founders, products and technologies transforming
our lives and our economy; and Cheddar News, young and fast,
network of general news and non-partisan headlines.

The company owns the 1600-screen CheddarU network
spaces (gymnasiums, cafeterias, student associations) of 600 university campuses.
Cheddar also owns and operates RateMyProfessors.com, where
5 million students will evaluate and review their teachers each month.

The OTT audience of Cheddar is mainly concentrated between 25 and 34 years old, and its
campus network has the largest reach out of the house of any 18 to
24 years old network¹.

This transaction has no significant impact on Altice USA's leverage ratio.
and has no impact on its expected stock repurchases for 2019. Altice USA
started its partnership with Cheddar in 2017 as an investor in the company.

LionTree Advisors acted as exclusive financial advisor to Cheddar, and
Cooley served as legal counsel to Cheddar.

About Altice USA

Altice USA (NYSE: ATUS) is one of the largest broadband communication networks
and providers of video services in the United States, offering broadband services,
pay TV, telephony services, Wi-Fi hotspot access, exclusive property
content and advertising services at around 4.9 million
residential and business customers across 21 states through its Optimum
and Suddenlink brands. The company operates a4, an advanced
advertising and data, which provides the public,
multi-screen advertising solutions at local, regional and national levels
companies and advertising customers. Altice also exploits hyperlocal information
network News 12 Networks and news and international news
i24NEWS network.

About the cheddar

Cheddar is the leader of post-wired networks. Its programming is
available on Sling TV, NOW DirecTV, Hulu, YouTube TV, Comcast X1,
Spectrum Charter, Sony PlayStation View, Snapchat, fuboTV, Philo, Amazon,
Twitch, Twitter, 60% of smart TVs in the United States and Facebook. Cheddar
currently broadcasts two live video information networks: Cheddar Business,
which covers the most innovative executives, founders, products and
technologies that are transforming our lives and our economy, and Cheddar News, a
general news network and young, fast, young and non partisan. the
company issues from the New York Stock trading floor
Exchange, his studio on the ground floor in the glazed corner of Sprint
Store in the Flatiron Building, WeWork in Los Angeles and the White
House. The cheddar was founded by Jon Steinberg, president and chef
Director of BuzzFeed Operations from 2010 to 2014. Among his investors are:
Lightspeed Venture Partners, Raine Ventures, Altice USA, Comcast
Ventures, AT & T, Capital Ribbit, New York Stock Exchange, Goldman
Sachs, Liberty Global, Amazon, Homebrew, WGI Group, 7 Global Capital,
Antenna Group and Dentsu Ventures.