New York (CNN Business) Altice USA has agreed to buy Cheddar, the three-year-old streaming financial news startup, in a $200 million deal.

The acquisition, first reported by Wall Street Journal , was announced Tuesday.

"Cheddar has demonstrated an innovative approach to live news while building an engaged audience, solid followership and a strong brand," Altice USA CEO Dexter Goei said in a statement

Altice, one of the country's largest broadband providers, was an early investor in Cheddar, which launched in 2016. Since then, Cheddar has planted its flag on a host of streaming platforms such as Hulu Live, Roku, DirecTV Now and YouTube TV.

Earlier this year, Cheddar launched as a channel on Spectrum's cable lineup.

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