![]() ![]() GB News received a £60m cash injection in August from British investor Sir Paul Marshall and Dubai’s Legatum Group, a deal that saw Hollywood group Discovery and co-founders Andrew Cole and Mark Schneider sell their stakes. On an Ebitda basis, seen as a measure of operating performance, it lost £28.7m. This was dwarfed by £12.7m in wages and other staff costs for its 175 employees. Overall, £3.2m of its £3.6m in sales came from within the UK. The majority of its revenue came from £3m in advertising, followed by digital and sponsorship income. It has improved ratings after hiring a host of big-name presenters including Nigel Farage. ![]() GB News came on the air in June 2021 but its launch was blighted by technical issues and a lengthy break for star presenter Mr Neil, who later departed in a clash over the channel’s direction. The figures show the channel, set up by broadcasting veteran Andrew Neil, facing a challenge to reach profitability as it seeks to compete with the BBC and Sky News and fend off a challenge from Rupert Murdoch’s TalkTV. GB News lost over £30m in its first year on the air as the upstart broadcaster was racked by internal disagreements and an advertising boycott.Īccounts for GB News Limited for the year to May showed that the company made a £30.7m loss on revenues of £3.6m. ![]()
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