Categories: OLD Media Moves

Cheddar CEO Steinberg: We will be profitable this year

Jon Steinberg, the CEO of business news network Cheddar, talked to the New York Post’s Keith Kelly about its continued expansion.

Kelly writes, “Steinberg launched Cheddar two and a half years ago after he raised $50 million from private equity firms.

“Since launch, he said he’s spent about $10 million on acquisitions, $5 million in capital costs building studios on the floor of the stock exchange and in the Flatiron.

“Building and staffing offices now have 180 people in New York, DC and LA.

“In 2017, he said he lost $4 million on $11 million in revenue. Last year, he said he lost another $4 million as revenue more than doubled, to $27 million. ‘We’ll be profitable this year,’ he predicts.

“His long-term plan: ‘Make sure we grow this year and see what happens.'”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.