UK-based new and current affairs broadcasting startup GB News has received £60m ($81.7m) in funding from investors including broadcaster Discovery, which committed £20m, Sky News reported yesterday.
The round also featured Legatum, the investment group that part funds right-wing think tank Legatum Institute, and hedge fund manager Paul Marshall, a major donor to the Leave campaign during the Brexit referendum.
Founded in 2019, GB News is preparing to launch a 24-hour television and digital news service later this year, and is looking to hire about 140 staff members, the majority of which will be journalists. It is chaired by Andrew Neil, a former editor of The Sunday Times.
Although GB News has not confirmed its political position, its investors, and the presence of Neil, indicate it will lean towards a right-wing audience. It is also set to replicate elements of US cable news channels, such as opinion-based coverage and personality-led shows.
Photo of Andrew Neil courtesy of BBC.
