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Cheddar gets scooped up by a big cheese

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Cheddar was supposed to be the millennials’ answer to boring old cable television. Now, it’s joining a cable company. Altice, the cable company once known as Cablevision, has purchased Cheddar for a whopping $200 million. The company’s founder and CEO, Jon Steinberg, is being promoted as part of this deal, and will oversee two other Altice-owned news networks, reports the Wall Street Journal.

In the world of digital media startups, Cheddar has always been an........

© Fast Company