Digital video news brand Cheddar has closed its Los Angeles studio, as well as implementing a round of layoffs.
The company also operates offices in New York.
Cheddar has two live-stream channels, one for business (Cheddar Business) and another for general news (Cheddar News).
On Friday a spokesperson told TheWrap, which first reported the news, that the company is consolidating the channels into one.
The Cheddar has offices in Los Angeles opened in mid-2017. It is unclear how many employees were affected by the layoffs.
Cheddar was founded by former BuzzFeed president-COO Jon Steinberg. It was created for millennials and Gen Z who do not pay for cable news but want to watch business and news coverage.
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Cheddar broadcasts live daily from the New York Stock Exchange.
The company was acquired by Altice USA in 2019, for $200 million.
Cheddar’s shows are available on social media and platforms such Sling, Amazon, Vimeo, Xumo, Pluto TV, YouTube and Hulu Live, as well as 60% of smart TVs in the U.S., according to the company.