Loss-making TV channel loses biggest investor as it faces competition from Rupert Murdoch’s TalkTV
US media group Warner Bros Discovery is to sell its stake in GB News, in a shake-up which has seen the loss-making television channel’s co-founders sell-up and resign as directors, and the remaining backers step forward with a further £60m in cash.
The fledgling news channel, which originally said its first £60m fund raising last January would last three years, has tapped Legatum Ventures and hedge fund boss Paul Marshall for more funds after just 18 months.
