GB News, the right-leaning current affairs broadcaster, is actively seeking to raise approximately £30 million in new funding despite ongoing investigations by media regulator Ofcom.
The parent company, All Perspectives Limited, is engaged in discussions for the fundraising, with existing investors, led by hedge fund billionaire Sir Paul Marshall, likely to contribute.
GB News claims to be the fastest-growing news website in the UK, reporting a nearly 60% increase in its digital audience in November. The broadcaster faces over half a dozen Ofcom investigations, including issues related to the involvement of serving politicians.
1. GB News aims to raise £30 million in funding, with discussions already underway among existing investors, led by Sir Paul Marshall.
2. Despite facing multiple investigations by Ofcom, GB News remains focused on growth and asserts itself as the fastest-growing news website in Britain.
3. The channel, launched in 2021, has built its profile by employing a mix of controversial politicians, firebrand presenters, and industry veterans from other broadcasters.
4. Former UKIP leader Nigel Farage and ex-Prime Minister Boris Johnson, who will join as a presenter, contribute to the channel’s high-profile lineup.
5. The fundraising effort follows the sale of a 25% stake by US media giant Discovery, one of the original shareholders, for £8 million in 2022.
6. GB News claims significant digital success, including over a billion views on YouTube and the fastest-growing news radio station and app in the country.
7. The broadcaster recently introduced a paid-for membership service offering exclusive content and benefits, diversifying its revenue streams.
8. The fundraising initiative coincides with the ongoing battle for control of The Daily Telegraph, involving Sir Paul Marshall, who is among the potential suitors for the broadsheet newspaper.
