SEC Filing Summary: Altice USA, Inc. (Form 8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Altice USA, Inc. on June 6, 2019. The filing discloses the completion of a strategic acquisition of Cheddar, Inc., a digital-first news company, pursuant to a merger agreement dated April 30, 2019.
Key Financial Metrics
The filing reports a total acquisition consideration of $200 million for Cheddar, Inc., subject to customary closing adjustments and representations and warranties. The document does not provide specific revenue, profit, cash flow, margin, debt, or liquidity metrics for Altice USA, Inc. for this period, as the filing focuses solely on the transaction announcement.
Material Changes
The primary material change is the expansion of Altice USA's portfolio through the acquisition of Cheddar, Inc. This transaction represents a significant capital deployment of $200 million to enter or expand within the digital news sector.
Guidance, Outlook, and Regulatory Matters
Altice USA has requested a waiver from the Securities and Exchange Commission under Rule 3-13 of Regulation S-X. This waiver seeks relief from the requirements of Rule 3-05 and Article 11 to provide certain financial statements of Cheddar and pro forma financial information. If the waiver is granted, the company will not provide these specific financial statements under Item 9.01(a) and (b) of the Form 8-K. The filing includes a press release as Exhibit 99.1.
Key Facts for Investor Verification
- Verify the final purchase price of Cheddar, Inc. after closing adjustments are finalized.
- Confirm whether the SEC granted the requested waiver regarding the submission of Cheddar's financial statements.
- Review the attached press release (Exhibit 99.1) for strategic rationale and integration plans.
- Monitor future filings for pro forma financial data if the waiver is denied or if the company voluntarily discloses it later.