Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Cheddar

Cheddar is joining forces with WeWork to scale its on-air guest booking operation. It's building remote studios in WeWork offices around the country, and eventually around the globe, to bring more TV-quality live shots to the network's weekday live programming slate. The Cheddar team will go live with its first-ever daily broadcast from a WeWork location today in Hollywood.

Why it matters: It's a cost effective way for Cheddar to scale its digital TV business at the local, national and global levels. And it's a good example of how technology is upending the traditional TV business.

  • "The partnership gives us more edge against competitors by allowing us to have the remote broadcast scale of a major cable network," says Cheddar CEO Jon Steinberg. Most networks rely on affiliate relationships around the country to deliver high-quality guest live shots, while Cheddar uses Skype for some of its 50+ daily guest interviews. Steinberg is hoping the WeWork partnership will also increase the frequency of guests booked per day, which will cut down on segment length.
  • Steinberg says they are looking to add a minimum of 5-10 locations in 2018 and build from there. They will set their sites on U.S. cities to start, like DC, Chicago and San Fransisco, and then plan on expanding to perhaps London or Asia.
  • The investment also provides a foray into more local news coverage. "Conceivably, this could be used in breaking news situations across the globe," says Steinberg. The company launched "Cheddar Local," this summer to provide top business headlines to local news broadcasts, tailored to their region.

Cheddar's strategy has thus far been to scale as quickly as possible at low cost. It's relied on strategic partnerships with established media entities to do so.

  • Nationally, Cheddar has scored distribution partnerships with Sling, Amazon, Pluto, Facebook, Twitter and two more bundles by year end.
  • Internationally, Cheddar launched a partnership with Propagate, a global indie studio, to produce a daily segment from New York Stock Exchange that would be customized and distributed for international markets.
  • "Everything we do now, has to work when we're 10x the size," says Jon Steinberg. "The goal is always to create a model where the cost drop is efficient. Steinberg says the total cost to build out all of their studios, controls rooms, equipment etc. has thus far been $2.2 million. Steinberg says the 90-person company is looking to net over $10 million in revenue this year.

The partnership is a first for WeWork as well. " "This deal is a good example of the way that we can start to program our own physical space while simultaneously offering a great opportunity for our members to share their stories with the world," says WeWork Vice Chair Michael Gross.

Go deeper

11 hours ago - Health

FDA advisory panel recommends Pfizer boosters for those 65 and older

A healthcare worker prepares a dose of the Pfizer-BioNTech Covid-19 vaccine at the Key Biscayne Community Center on Aug. 24, 2021. Photo: Eva Marie Uzcategui/Bloomberg via Getty Images

A key Food and Drug Administration advisory panel on Friday overwhelmingly voted against recommending Pfizer vaccine booster shots for younger Americans, but unanimously recommended approving the third shots for individuals 65 and older, as well as those at high-risk of severe COVID-19.

Why it matters: While the votes are non-binding, and the FDA must still make a final decision, Friday's move pours cold water on the Biden administration's plan to begin administering boosters to most individuals who received the Pfizer vaccine later this month.

12 hours ago - World

France recalls ambassadors from U.S. and Australia over submarine deal

Secretary of State Antony Blinken (L), French Foreign Minister Jean-Yves Le Drian (C), and French ambassador to the U.S. Philippe Etienne. Photo: Nicholas Kamm/AFP via Getty Images

France has taken the extraordinary step of recalling its ambassadors to the U.S. and Australia after both countries blindsided their French allies with a new military pact and submarine contract, the French Foreign Ministry announced on Friday.

The backstory: While sealing an agreement with the U.S. and U.K. to acquire nuclear submarines, Australia ripped up an existing $90 billion submarine deal with France. That led senior French officials to accuse the U.S. of a "stab in the back."

Updated 12 hours ago - World

In reversal, Pentagon now says drone strike killed 10 Afghan civilians

Caskets for the dead are carried towards the gravesite as relatives and friends attend a mass funeral for members of a family that is said to have been killed in a U.S. drone airstrike, in Kabul on Aug. 30. Photo: Marcus Yam/Los Angeles Times via Getty Images

A U.S. drone strike launched on Aug. 29 killed 10 civilians in Afghanistan, including seven children, rather than the Islamic State extremists the Biden administration claimed it targeted, the Pentagon said Friday.

Why it matters: U.S. Central Command said at the time that officials "know" the drone strike "disrupted an imminent ISIS-K threat" to Kabul's airport, and that they were "confident we successfully hit the target."