GB News seeking £30m injection
December 11, 2023
GB News, the right-leaning current affairs broadcaster, is reportedly in talks to raise millions of pounds as it contends with a number of Ofcom investigations and a dwindling number of advertisers.
SGB News’ parent company, All Perspectives Limited, is targeting a fundraising worth in the region of £30 million (€35.08m) in the coming months, with discussions already under way, reports Sky News. New funding would likely be injected by existing investors, who are led by the hedge fund billionaire Sir Paul Marshall, accoridng to the report.
GB News launched in 2021 and built its profile by employing a controversial slate of politicians and controversial presenters such as Jacob Rees-Mogg (pictured) and Nigel Farage, as well as industry veterans from other broadcasters, such as Eamonn Holmes and Beverley Turner. Boris Johnson is also set to front a new series on the channel early next year.
Responding to an enquiry from Sky News, Angelos Frangopoulos, GB News’ chief executive, said: “GB News is in an accelerated growth phase, beating targets across its platforms. We are always evaluating strategic and investment opportunities.”