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Photo: Cheddar

Cheddar, the streaming video network dubbed the "CNBC for millennials" is acquiring Rate My Professors (ratemyprofessors.com), the popular website used by college students to rate their teachers and professors.

Why it matters: The franchise, used by more than 6 million students a month, will add a user-generated component to Cheddar's business, which to-date has focused on mass distribution of professionally-created news content.

Details: Advertising company Taboola has also signed on as a strategic in-feed discovery partner for Cheddar’s operation of Rate My Professors. In a statement, Taboola CEO and founder Adam Singolda says the company is bringing an infinite scrolling feed structure to the site, which is meant to attract millennials.

Between the lines: The acquisition follows a spree of acquisitions and partnerships brokered by Cheddar over the past few months, many of which focus on winning the young adult and student demographics.

  • In May, the company acquired Viacom's "MTV Networks on Campus," the distribution platform for Viacom's college campus-based service, MTVU.
  • The live network, now called CheddarU, reaches nine million students nationwide on 600 college campuses.

The bottom line: Cheddar has built an extensive distribution network to make sure their content is consumed as widely as possible.

  • Like other popular media businesses, they hope to have more pricing leverage, both with consumers and distributors, once they reach a point of saturation. In July, Cheddar said it will do $25 million in revenue for 2018, but Steinberg says it will now be closer to $30 million. Still, millennials are their target audience.
"Rate My Professors coupled with our OTT networks and CheddarU network makes us the defining media company for a new generation that has no relationship with legacy cable news media.”
— Cheddar CEO Jon Steinberg

Go deeper

Updated 1 min ago - Economy & Business

Tax season nightmare ahead for understaffed IRS

Illustration: Shoshana Gordon/Axios

The IRS will start accepting 2021 tax returns in less than a week, and the filing delays and administrative headaches to come might eclipse last year — which was “one of the worst filing seasons," according to an independent advocacy agency within the IRS.

Why it matters: For taxpayers, especially with complex or paper filings, this means headaches, delayed refunds, and mistakes.

China builds its own movie empire

Expand chart
Data: Gower Street citing Comscore; Chart: Kavya Beheraj/Axios

China blocked all four of Disney's Marvel movies from being released in its theaters last year, a grim sign for U.S. film giants being squeezed out of the world's fastest-growing box office.

Why it matters: The Chinese Communist Party is using domestic films as a key conduit for mass messaging aimed at achieving political goals, leaving little room for foreign views.

Why 401(k) rollovers are so annoying

Illustration: Aïda Amer/Axios

If you happened to change jobs recently, you may have tried to transfer your retirement account from your former employer into an Individual Retirement Account or your new employer's 401(k) plan. If so, you probably encountered a bureaucratic gantlet — and you're not alone.

Why it matters: Kludgey processes around retirement account transfers result in people losing track of their funds, giving up important tax advantages, or otherwise disadvantaging themselves and being less prepared for retirement.

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